Education is a cornerstone of development. It not only opens up new vistas of thought, but all progress of society is based on the timbre of its education institutions. And the true test of an education institution is the industry-readiness of its alumni. Giving an impetus in the right direction, National Institute of Industrial Engineering (NITIE), Mumbai, has received the esteemed position of Indian Institute of Management (IIM) Mumbai after both Houses of Parliament recently passed the IIM (Amendment) Bill 2023.
The decision to upgrade NITIE into a prestigious IIM – comes just a little over two years after Mr. Shashi Kiran Shetty, Founder and Chairman – Allcargo Group, was appointed as the Chairman of the Society and Board of Governors at NITIE, in 2020.
A firm believer in the transformative power of education and the potential of the youth to create change, he says, “I consider academics and education to be a foundation for nation-building and truly believe that encouraging and inspiring bright, young minds helps fortify a brighter future for the nation.”
His global vision and perspective, inspiring entrepreneurial journey, more than three decades of rich experience in the logistics sector, and above all, a relentless pride and belief in India’s bold ambitions and growth story have been the driving force behind his valuable contribution to NITIE’s accelerated transformation.
An intense journey to excellence
Mumbai will now boast of an Indian Institute of Technology (IIT) and an IIM, and Maharashtra will be the only state in the country to have two IIMs, the other one being in Nagpur.
However, the journey to IIM was not an easy one. As far back as 1955, the central government had appointed a panel to look into its feasibility, and in 1957 Harvard Business School had recommended Bombay, and also insisted that the new institute be autonomous, similar to the American model. However, Bombay University contested the autonomous status. Consequently, Ahmedabad received the prestigious IIM.
In 2001, there was another attempt to bring the IIM to Mumbai, but it wasn’t successful. After considerable efforts, the state of Maharashtra got its first IIM in Nagpur, in 2015.
Needless to say, this new monumental development will have a tremendously positive impact on Mumbai’s education landscape. With this move, the commercial capital of India, will now be a formidable hub of learning, innovation, and entrepreneurship, that will fuel the nation’s bold ambitions of economic growth and progress.
Building on a rich, glorious legacy
Over the last five decades, NITIE has implemented a number of programs and initiatives to uphold its motto of “Udyog Pragati’, and consistently been among the country’s top-ranked academic institutions.
In addition to post-graduate and doctoral programs, NITIE annually trains over 2000 professionals through multiple week-long Management Development Programs (MDPs) and Unit Based Programs (UBPs) in different areas of Industrial Engineering and Management.
Additionally, its applied research and professional consultancy in various facets of management and productivity related fields continue enabling business and industry to assess, analyse, and take informed decisions for growth and success.
With NITIE’s transformation to the esteemed status of an IIM, the stage is now set for Prof. Manoj Tiwari, Director, NITIE, and his team of faculty members, students, non-teaching staff, as well as alumni, partners, and associates to set new benchmarks and achieve new milestones.
Nurturing industry-academia partnerships
Mumbai being a hub for economic activity, it’s not just the world of academia that stands to benefit.
An IIM in the city will enable greater collaboration between industry and academia, and open up avenues to form partnerships with industry-leading businesses and educational institutions of exceptional repute, all over the world.
With the cutting-edge research and academic rigour of an IIM combined with astute industry insights, it will empower students and businesses to maximize the potential of each other’s strengths.
As one of India’s leading post-graduate institutions for engineering and management, NITIE has a glorious history of grooming and nurturing leaders across India and the globe, and the new status as an IIM will only enhance its impact on students and businesses, alike.