As a part of its promotional activities for the development of earth science-related technologies, growth of geosciences in general, and spread of accruing societal benefits, the IGC has instituted as many as nine cash prizes for young scientists, who take part in its Conventions by oral and poster presentations.

In addition, there is a GSI-Sesquicentennial Commemorative Award of Rs. 5,000/- in value alongwith citation to the contributor of the paper, adjudged as the best among the research papers contributed to a Convention.

An honourium of Rs 5000/= in cash is given to each speaker invited to deliver Professor Prem Bahadur Verma Memorial Lecture