The National Institute of Industrial Engineering (NITIE), Mumbai will soon be given the status of the Indian Institute of Management (IIM). A Bill in this regard is expected to be tabled in the monsoon session of Parliament, which began today. The bill to change NITIE into IIM is likely to be introduced any day before August 13. The institute from Powai will become the first IIM-Mumbai, once the bill gets approved.
The IIM (Amendment) Bill 2020, which recommends the inclusion of NITIE Mumbai in the IIM Act 2017 and renaming it as IIM-Mumbai, will be presented among the list of several other bills during the monsoon session for consideration. The central government drafted this bill after a committee formed by the Ministry of Education submitted its report on the suitability of the plan.
The MoE-appointed committee was led by Bombay Stock Exchange CEO and Allahabad University Chancellor Ashishkumar Chauhan. Pramod Kumar Jain, director at IIT BHU, Pawan Kumar Singh, director at IIM Tiruchirappalli, Subhasis Choudhuri, director at IIT Bombay, and Pradeep Goyal, CMD at Pradeep Metals were also members of the committee.
Earlier this year, the committee reportedly visited the institute, which raised the prospect of Mumbai having its own IIM, however, no official information on the subject has been shared so far.
Notably, NITIE saw a considerable rise in its ranking in the National Institute Ranking Framework (NIRF) 2022, which got released last week. It was ranked 9th among India’s top 10 management institutes. This is the first time NITIE has managed to secure a place in the country’s top ten Management categories. For the previous two years, it has been ranked in the 12th position.
As of now, there are 20 IIMs in the country, including IIM Ahmedabad, IIM Bangalore, and IIM Calcutta, which were labelled the best management institutes in the NIRF Rankings 2022. Among the other ranking IIMs include IIM Kozhikode, Indore, Lucknow, etc.