IIT Bombay Library has developed an excellent collection of books, journals and non-book material in science, engineering, technology, humanities, social sciences and management. Collection building – a core activity of the library, has been undergoing a transformation. From print-only environment where all our acquisitions were in hard copy format, it has shifted to print-and-online and to online-only formats. The library currently subscribes to over 90% of its journals in online only format and the trend is likely to continue. However, most of books, both text and reference, are still preferred in print-only. The library collection comprising of books, journals, theses, reports, standards, pamphlets and other reading material as on March 2021 stands as follows :
| Collection | Total as on 31 March 2021 |
| Books, Theses, CDs & Videos | 2,50,147 |
| E-Books | 6,562 |
| TLL & BC (Book Bank) Collection | 12,203 |
| Bound Volumes of Journals | 1,19,576 |
| Reports, Pamphlets, Standards | 67,899 |
| Photocopies | 4,417 |
| Journals (Print, Online) | 40,000+ |