India’s financial capital Mumbai will finally have an Indian Institute of Management. An amendment to the IIM Act 2017 was brought in the Lok Sabha on Friday, to upgrade the National Institute of Industrial Engineering (NITIE) in Mumbai as the 21st IIM of the country.
The Bill was introduced in the Lok Sabha even as the Opposition continued an uproar over their demand for an address by PM Modi on Manipur. As the Bill was introduced, the chair asked Congress MP Manish Tewari if he wanted to say anything in introduction, but his comments were stopped after he spoke on Manipur.
The NITIE was established in Mumbai in 1963 with the support of the United Nations Development Programme and the International Labour Organization. Over the last six decades, the institution has risen in prominence in the field of business education. It is now known as an exceptional B-School and has made significant contributions to management education.
IIM Calcutta and IIM Ahmedabad were the first institutions among the premier management institutions to be established in 1961, followed by IIM Bangalore in 1973. IIM Udaipur, established in 2011, was the 20th institution.