The study is based on the secondary data compiled by the Ministry of Human Resource & Development, Govt., of India for the period 2012-13, 2013-14 & 2014-15 and was released as the ranking list of Institutes of Engineering and Technology in India for the year 2016. The study aims to assess the Returns on Investment (ROI) of the twenty leading libraries of the Institutes of Engineering and Technology in India in the form of institutional research output. An attempted has also been made to rank the each individual library on the basis of seven different parameters chosen for the study and worked out the difference between their ascribed rank as per the MHRD list and the achieved ranks worked out on the basis of chosen. The rankings have been calculated on the basis of scores earned by each individual library against each individual parameter. The results showed that the Institutes of Engineering and Technology in India concentrate more on procurement of electronic resources in their libraries, spending nearly three-fourth of their budget on the procurement of electronic documents mostly in thr form of online journals and eBooks. While evaluating the ascribed and achieved ranking, 95% libraries under study faced shuffle, as 55% libraries slipped in their rank, while as 45 % improved and 5% showed no change. The study gives a clear idea about the importance of libraries and the part these sub-institutions’ play in the overall ranking of their institution.