The draft Indian Institutes of Management (IIMs) Bill intends to grant statutory status to Indian Institutes of Management to enable them to grant degrees to their students in the academic courses conducted by these institutes. The IIMs as premier institutions nurture world-class high skilled manpower and quality professionals in the areas of consulting, finance, marketing and human resource for various industries in the manufacturing and service sectors besides contributing to the development of an ecosystem which boosts the economic growth of the country. However, these institutions could award only Certificate, Post Graduate Diploma and Fellowship, which lacked universal acceptability in the field of academia and research. The Bill intends to ensure greater synergy and functional autonomy along with commensurate accountability in academic and financial matters of the IIMs.

The opinions and suggestions of the stakeholders including the IIMs on the draft IIM Bill have been received. After consideration of all the opinions and suggestions, a decision will be taken by the Central Government.

This information was given by Union Minister of Human Resource Development Smt. Smriti Zubin Irani in Lok Sabha today.

Source: PIB