Mumbai: Mumbai is set to welcome a prestigious addition to its academic landscape. The Union Cabinet, led by Prime Minister Narendra Modi, has given its approval to a bill that will elevate the National Institute of Industrial Engineering (NITIE) in Mumbai to the esteemed status of the 21st Indian Institute of Management (IIM). This announcement comes as part of a series of bills approved by the cabinet ahead of the upcoming monsoon session of Parliament, scheduled from July 20 to August 11, 2023.
Established in 1963 with the support of the United Nations Development Programme and the International Labour Organization (ILO), NITIE Mumbai has been a prominent institution in the field of business education for the past 60 years. It has consistently upheld its reputation as an exceptional B-School.
With this amendment to the IIM Act, NITIE Mumbai will undergo a remarkable transition to become IIM Mumbai. Currently, there are 20 IIMs across the country, and the elevation of NITIE Mumbai will mark a significant milestone as the 21st IIM. This decision is the recognition of NITIE's contributions to management education and its alignment.
For those curious about the landscape of IIMs in India, here is a recap of the established institutions:
1. IIM Calcutta - Established in November 1961.
2. IIM Ahmedabad - Established in December 1961.
3. IIM Bangalore - Established in 1973.
4. IIM Lucknow - Established in 1984.
5. IIM Kozhikode - Established in 1996.
6. IIM Indore - Established in 1996.
7. IIM Shillong - Established in 2007.
8. IIM Raipur - Established in 2010.
9. IIM Ranchi - Established in 2010.
10. IIM Rohtak - Established in 2010.
11. IIM Tiruchirappalli - Established in 2011.
12. IIM Udaipur - Established in 2011.
It is an exciting time for the institution, the city of Mumbai, and the country as a whole, as this new IIM promises to further contribute to the growth and progress of the business and management field.