The decision was made after the Indian Institutes of Management (Amendment) Bill 2023 received approval from both Houses of Parliament during the current monsoon session.
The Indian Institute of Management Mumbai (IIM-Mumbai) will shortly replace the National Institute of Industrial Engineering (NITIE). The decision was made after the Indian Institutes of Management (Amendment) Bill 2023 received approval from both Houses of Parliament during the current monsoon session.
IIM Mumbai will now rank second in Maharashtra after IIM Nagpur as the country’s twenty-first IIM. This news coincides with the institute’s Diamond Jubilee Year celebrations.
The NITIE official X account With both Houses of Parliament passing the #IIM (Amendment) Bill 2023 during the current Monsoon Session, Mumbai also confirmed the news and stated, NITIE would officially obtain the new designation of Indian Institute of Management, Mumbai (IIM Mumbai).”
The legislation will allow NITIE to become a member of the elite group of prestigious IIMs. The 21st Indian Institute of Management (#IIM), which was founded in India, has long been associated with great management education, according to a different tweet.
”Getting IIM designation is a moment of enormous pleasure for NITIE and Mumbai,” said Mr. Shashi Kiran Shetty, Chairman, Society and Board of Governors, NITIE, and Chairman and Founder, Allcargo Group. NITIE is known for providing high-quality education in the domains of industrial engineering, engineering management, and management sciences. The inclusion of NITIE in the IIM Act, 2017 will motivate us to continue our academic brilliance by cultivating a culture of continuous learning and innovation to develop leaders of tomorrow”.
The President will have the authority to oversee their operations, launch investigations, and nominate and remove directors.
Notably, the National Institute of Industrial Engineering (NITIE), founded in Mumbai in 1963 by the Indian government, consistently ranks among the best business schools in India. The institution is listed seventh among India’s management institutes in the National Institutional Ranking Framework (NIRF) rankings for 2023. NITIE has a campus that is spread out over 63 acres of forested hilltop in Mumbai’s Powai neighborhood, on the shores of Vihar Lake.
With numerous partner universities in North America, South America, Europe, and South-East Asia, NITIE also runs a thriving student exchange programme.
