The National Institute of Industrial Engineering, NITIE, is set to undergo a transformation as it will soon be rebranded as the Indian Institute of Management Mumbai (IIM-Mumbai). This decision has been propelled by the Indian Institutes of Management (Amendment) Bill 2023, which has secured approval from both Houses of Parliament during the ongoing Monsoon Session.
As a result of this development, IIM Mumbai will emerge as the 21st IIM in the nation and the second in Maharashtra, following IIM Nagpur. This announcement coincides with the institute’s celebration of its Diamond Jubilee Year.
NITIE Mumbai’s official account also shared the news, stating, “With both Houses of Parliament giving their nod to the #IIM (Amendment) Bill 2023 in the ongoing Monsoon Session, NITIE will officially adopt the new title of Indian Institute of Management, Mumbai (IIM Mumbai).”
“The bill paves the way for NITIE to join the distinguished cohort of globally renowned IIMs. As the 21st Indian Institute of Management established in 1963, it has epitomized exceptional management education,” another tweet highlighted.
Reflecting on the occasion, Mr. Shashi Kiran Shetty, Chairman of the Society and Board of Governors at NITIE and Chairman and Founder of Allcargo Group, expressed, “The recognition of NITIE as an IIM is a moment of immense pride for both NITIE and Mumbai. NITIE has garnered acclaim for its excellence in providing quality education in the domains of industrial engineering, engineering management, and management sciences. Inclusion in the IIM Act, 2017, will serve as a catalyst, inspiring us to continue our pursuit of academic excellence by fostering a culture of continual learning and innovation to nurture tomorrow’s leaders.”
As outlined in the IIM (Amendment) Bill 2023, each institute’s Visitor will be the President of India. The President will possess the authority to scrutinize their operations, initiate investigations, and appoint or remove directors.
NITIE, established by the Indian Government in 1963 in Mumbai, has consistently ranked among the top B-schools in India. It stands at the seventh position in the National Institutional Ranking Framework (NIRF) rankings for 2023 among Management Institutes across the country. Situated in the vicinity of Powai in Mumbai, nestled along the shores of Vihar Lake, NITIE’s sprawling 63-acre campus is a verdant sanctuary.
The institute also boasts a dynamic Student Exchange Programme with numerous partner universities spanning North America, South America, Europe, and South-East Asia.