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Business News/ News / India/  Mumbai gets first IIM following Union Cabinet's amendment, NITIE gets rechristened
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Mumbai gets first IIM following Union Cabinet's amendment, NITIE gets rechristened

The National Institute of Industrial Engineering (NITIE) in Mumbai has been approved to become the 21st Indian Institute of Management, IIM Mumbai.

Mumbai's National Institute of Industrial Engineering (NITIE) has been approved to become the 21st Indian Institute of Management (IIM) (Official Twitter Account)Premium
Mumbai's National Institute of Industrial Engineering (NITIE) has been approved to become the 21st Indian Institute of Management (IIM) (Official Twitter Account)

Mumbai is set to welcome a prestigious addition to its academic landscape with the elevation of the National Institute of Industrial Engineering (NITIE) to the esteemed status of an Indian Institute of Management (IIM). The Union Cabinet, led by Prime Minister Narendra Modi, approved a bill for this transformation, signalling a significant milestone for NITIE Mumbai.

NITIE Mumbai was established in 1963 with the support of the United Nations Development Programme and the International Labour Organization. It has been a prominent institution in the field of business education for the past 60 years and has earned a reputation as an exceptional B-School and has made significant contributions to management education.

Also read: An IIT degree guarantees a great pay cheque, right? Wrong

The amendment to the IIM Act will result in NITIE Mumbai being rechristened as IIM Mumbai. This announcement is a part of series of bills approved by the cabinet ahead of the upcoming monsoon session of Parliament, scheduled from 20 July to 11 August, 2023.

The Indian Institutes of Management (IIMs) have been established at different times, contributing to the growth of management education in the country. The first two IIMs, IIM Calcutta and IIM Ahmedabad, were established in November 1961 and December 1961, respectively. 

Over the years, more IIMs were set up, including IIM Bangalore in 1973, IIM Lucknow in 1984, IIM Kozhikode and IIM Indore in 1996, IIM Shillong in 2007, and IIM Raipur, IIM Ranchi and IIM Rohtak in 2010. The most recent additions to the list are IIM Tiruchirappalli and IIM Udaipur, established in 2011and the latest being IIM Mumbai in 2023.

Also read: IIM Calcutta and Emeritus Launch Executive Programme in Leadership and Management to Empower Next-Gen Business Leaders

Currently, there are 20 IIMs across the country, and the elevation of NITIE Mumbai to IIM status will mark the establishment of the 21st IIM. This decision recognises NITIE's contributions and its alignment with the principles and standards of management education, reported FPJ.

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Published: 14 Jul 2023, 02:13 PM IST
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