During the ongoing Monsoon Session, the Indian Institutes of Management (Amendment) Bill 2023 received approval from both Houses of Parliament, leading to the official renaming of the National Institute of Industrial Engineering (NITIE) as the Indian Institute of Management, Mumbai (IIM Mumbai).
This legislative development marks NITIE’s integration into the prestigious group of globally renowned IIMs. Established in 1963, the proposed 21st Indian Institute of Management (IIM) has consistently delivered a world-class management education. This announcement is particularly significant as it coincides with the institute’s Diamond Jubilee Year celebrations.
Positioned as a distinctive institution that combines the attributes of an Indian Institute of Technology (IIT) and now an Indian Institute of Management (IIM), Mumbai is poised to become a dynamic hub for academic pursuits and entrepreneurship, fostering ambitious aspirations among the nation’s youth.
Mr. Shashi Kiran Shetty, Chairman of the Society and Board of Governors at NITIE and Chairman & Founder of the Allcargo Group, expressed gratitude to Prime Minister Narendra Modi and Minister for Education & Skill Development, Dharmendra Pradhan, for this transformative change.
He emphasized that gaining IIM recognition is a source of immense pride for NITIE and Mumbai. Renowned for its excellence in industrial engineering, engineering management, and management sciences education, NITIE’s inclusion in the IIM Act, 2017, further reinforces its commitment to fostering a culture of continuous learning and innovation, aimed at nurturing future leaders.
Shetty congratulated all stakeholders and supporters, highlighting that this acknowledgment would strengthen the institute’s resolve to establish new standards of academic excellence.
Shetty also conveyed confidence in the State Government of Maharashtra, led by Chief Minister Shri Eknath Shinde and Deputy Chief Ministers Shri Devendra Phadnavis & Ajit Pawar, for their anticipated support in achieving this governmental objective.
He praised the historical industry backing that NITIE has enjoyed, acknowledging the guidance of luminaries such as Shri Yashvantroa Chauhan, the First Chief Minister of Maharashtra, Shri B G Deshmukh, Cabinet Secretary of GoI, and esteemed industrialists like Mr. Anand Mahindra, Chairman of Mahindra Group, and Mr. Adi Godrej, Chairman Emeritus of the Godrej Group.
Professor Manoj Tiwari, Director of NITIE, reflected on the significance of the inclusion of NITIE in the IIM Act, 2017, attributing this achievement to years of dedication, commitment, and collaborative efforts by the faculty, administrative officials, management members, staff, alumni, and students.
Tiwari stressed that this acknowledgment reaffirms NITIE’s enduring pursuit of academic excellence in the domains of industrial engineering, engineering management, management sciences, and supply chain. He articulated that this recognition would serve as inspiration to enhance the institute’s academic offerings, infusing them with profound industry insights and experiences.
With a legacy of shaping global leaders and professionals since its inception in 1963, NITIE is now poised to accelerate its mission with the prestigious IIM designation. NITIE’s ranking as the 7th institution in the Management Category by the National Institute Ranking Framework (NIRF) in 2023 underscores its dedication to excellence. Through its newly established identity, the institute aspires to secure a place among India’s top three rankings.