The Union Cabinet of India has given its approval for the National Institute of Industrial Engineering (NITIE) Mumbai to become the 21st Indian Institute of Management in Mumbai, which is a significant step. This choice would strengthen India’s management education industry by adding yet another esteemed school to the roster of IIMs in the nation. The passage of this legislation demonstrates the appreciation for NITIE’s achievements and its ability to improve Mumbai’s management education. This article examines the history of NITIE, the process of becoming an IIM, and the possible effects of this change.
The Union Cabinet passed three laws on July 13, 2023, one of which was a modification to the IIM Act designating NITIE Mumbai as the 21st IIM in Mumbai. The government’s determination to support quality management education options across the nation and to develop the higher education sector is reflected in this choice.
60 Years of Legacy: NITIE Mumbai to Become IIM Mumbai
With the aid of the International Labour Organisation (ILO) and the United Nations Development Programme (UNDP), NITIE Mumbai was founded in 1963 and has a 60-year history of generating qualified professionals. It provides a variety of management programmes, including PGDM, Executive PGDM, and Doctoral programmes, and is supported by the Government of India. NITIE Mumbai, which is now placed #7 in the NIRF Rankings 2023, has made a name for itself as a top institution for management education.
The Journey towards IIM Mumbai
The path taken to transform NITIE Mumbai into IIM Mumbai has taken several detours. Anand Mahindra and Deepak Parekh, two well-known businessmen, made a request to the government in 2007 that NITIE be renamed IIM Mumbai. Progress was delayed, however, until the Department of Education established an expert committee in January 2022 to determine whether or not the NITIE could fall under the IIM Act of 2017. The group, composed of prominent figures from the business and academic communities, evaluated the benefits of including NITIE in the IIM system.
The Legacy of India’s 21 IIMs Continues
India now has 20 IIMs, some of which have been around for more than 60 years. Having been founded in 1961, IIM Calcutta is the first and oldest IIM. IIM Ahmedabad, established soon after, followed close on his heels. Later, the IIM Bangalore (1973) and the IIM Lucknow (1984) were added, significantly enriching the panorama of management education in India.
Since 2007, when the number of IIMs climbed from 6 to 20 in just 15 years, the number of IIMs has quickly risen. Observe the table below.
| IIMs in India | Year of Establishment |
| Calcutta | 1961(November) |
| Ahmedabad | 1961 (December) |
| Bangalore | 1973 |
| Lucknow | 1984 |
| Kozhikode | 1996 |
| Indore | 1996 |
| Shillong | 2007 |
| Raipur | 2010 |
| Ranchi | 2010 |
| Rohtak | 2010 |
| Tiruchirappalli | 2011 |
| Udaipur | 2011 |
| Kashipur | 2011 |
| Amritsar | 2015 |
| Bodhgaya | 2015 |
| Nagpur | 2015 |
| Sirmaur | 2015 |
| Sambalpur | 2015 |
| Visakhapatnam | 2015 |
| Jammu | 2016 |
| Mumbai | Launched in 1963, expected to be renamed as IIM Mumbai in 2023. |
Sourced: https://www.mbauniverse.com/
Big Changes Anticipated in NITIE to IIM Mumbai
With the transformation of NITIE Mumbai into IIM Mumbai, the institution is expected to undergo significant changes. First, in line with other IIMs that converted to degree-granting status after the passage of the IIM Act in 2017, NITIE will be able to offer MBA degrees instead of postgraduate diplomas. The degree awarded by IIM Mumbai will now have more prestige and value as a result of this development.
Additionally, this change is probably going to result in Indian Institute of Management Mumbai receiving more applications. Currently, NITIE receives about 25,000 applications, but when NITIE becomes IIM Mumbai, this number is anticipated to rise, increasing the competition and diversity of the student population.
However, there is also a possibility that Indian Institute of Management Mumbai’s programme prices would go up. NITIE now charges costs that are comparable to those of younger IIMs and less than those of older IIMs. The pricing system used by other IIMs may be adopted by NITIE as Indian Institute of Management Mumbai, which might lead to a fee increase in the next years.
An important development in the realm of management education in India is the Union Cabinet’s acceptance of the bill to transform NITIE Mumbai into the 21st IIM in Mumbai. This choice honours NITIE’s history, accomplishments, and potential to further improve Mumbai’s management education environment. The inclusion of Indian Institute of Management Mumbai would provide students who want to pursue management education another prestigious school to think about, further establishing India as a centre for management education.
