The authorities of the Indian Institute of Management Trichy has decided to revise the proposal estimate to 650 crore and seek funds from the Ministry of Human Resource Development, due to cost escalation and construction work on the campus is going ahead of schedule.
Earlier, in 2007, the proposal was made for 1.15 lakh square feet. Now, due to cost escalation, it has been restricted to 78,000 square feet. Previously, the cost estimate was Rs 333 crore.
The IIM-Trichy campus is the 11th institute established by the Government of India. The Institute, launched in June 2011, is currently functioning on the National Institute of Technology (NIT-T) campus, Trichy. The foundation for the new 175-acre campus was laid by the then Minister of HRD and Telecommunication Kapil Sibal on January 4, 2011.
The IIM-Trichy offers post graduate programme in management (PGP), a two-year full-time residential programme; fellow programme in management (FPM) for doctoral candidates; post graduate programme in business management (PGPBM), three year part-time programme for working executives on the Chennai campus, and post graduate programme in human resources management (PGPHRM).