The National Institute of Industrial Engineering, or NITIE, will soon be renamed as the Indian Institute of Management Mumbai (IIM-Mumbai). The decision was made after the Indian Institutes of Management (Amendment) Bill 2023 received approval from both Houses of Parliament during the current monsoon session.
IIM Mumbai will now rank second in Maharashtra after IIM Nagpur as the country’s twenty-first IIM. This news coincides with the institute’s Diamond Jubilee Year celebrations.
‘The bill will make NITIE join the illustrious family of globally renowned IIMs. India’s established 21st Indian Institute of Management (IIM) established in 1963, the 21st IIM has been synonymous with exceptional management education,” as per official tweet.
The IIM recognition is a source of great pride for NITIE and Mumbai, according to Shashi Kiran Shetty, Chairman of the Society and Board of Governors at NITIE and Chairman and Founder of Allcargo Group. In the areas of industrial engineering, engineering management, and management sciences, NITIE is renowned for providing high-quality instruction. We shall be further inspired to continue our path of academic excellence by fostering a culture of continuous learning and innovation to develop tomorrow’s leaders thanks to the inclusion of NITIE in the IIM Act, 2017’.
The President of India will be the Visitor of each institute, according the IIM (Amendment) Bill 2023. The President will have the authority to oversee their operations, launch investigations, and nominate and remove directors.
Notably, the National Institute of Industrial Engineering (NITIE), founded in Mumbai in 1963 by the Indian government, consistently ranks among the best business schools in India. The institution is listed seventh among India’s management institutes in the National Institutional Ranking Framework NIRF rankings for 2023. NITIE has a campus that is spread out over 63 acres of forested hilltop in Mumbai’s Powai neighborhood, on the shores of Vihar Lake.
With numerous partner universities in North America, South America, Europe, and South-East Asia, NITIE also runs a thriving student exchange program.
