Three panels formed to make IIMs world class

Three panels formed to make IIMs world class

Human Resources Development(HRD) Minister Kapil Sibal said the roadmap for restructuring and the functioning was deliberated upon in a “free wheeling, frank, uninhibited discussion” between the IIM directors, its chairmen and the alumni.

The first group, headed by R C Bhargava, Chairman of Maruti Suzuki Limited, will look at governance in IIMs, including issues of power, issues of accountability, empowerment of director, role of the board, synchronisation of the chairman and board members, Sibal told mediapersons here on Saturday. “The second group will look into the issues of faculty and the nature of research in IIMs. Flexibility in the recruitment, contract employment, remuneration for faculty and other issues pertaining to restructuring of the syllabi will be also discussed,” the Union Minister said. 

M Damodaran, former chairman of Securities and Exchange Board of India (SEBI) will head the group. It had become difficult for the government to increase the endowments for the IIMs, Sibal said.

“The third group would focus on the issues of funding. IIMs should be able to fund themselves from alumni and business companies by professional institutional management.”

H S Bhartiya, chairman of Jubilant Organosys and former chairman Board of Governors, IIT Kanpur will head the group.

The report and the recommendations of the groups are to be submitted by May. 

Business Journal

Sibal announced that the HRD ministry and the IIMs are looking at publishing a business journal on the lines of Harvard Business Review, adding that the journal should benchmark at the global level. The business journal, comprising of world class contributions is set to launch in 2011. 

Asked about IIMs proceeding with their proposal for offshore campuses, Sibal said the Ministry had no objections with the proposal to begin institutes abroad, adding  that the faculty crunch in the existing institutes needed to be resolved first.