Every three years there should be an external review of each IIM, which could be discussed in the IIM-Council. This was decided in a meeting of the IIM council chaired by Kapil Sibal, Union Minister of HRD. The meeting was attended by Dr. D.Purandeshwari, Secretary Higher Education, Chairpersons and Directors of the Indian Institutes of Management (IIMs) besides senior officials from the Ministry of HRD.

The meeting reviewed the progress in the establishment of the new IIMs. It was mentioned that land issues in respect of all new IIMs had been resolved. Directors of all new IIMs except IIM-Kashipur are in place and process for selection of Director IIM-Kashipur is at an advanced stage. A Standing Committee had been constituted under Damodaran for co-coordinating matters between the new IIMs.

Reviewing the process of investing greater autonomy on IIMs, the Council noted that the revised Memoranda of Association and Rules of Ahmedabad and Indore have been finalised. The process of revision of MoAs of Bangalore, Lucknow and Kozhikode are underway.

Directors of IIMs Calcutta, Lucknow, Kozhikode indicated that the annual work plan system and teaching requirements along with faculty peer review has been put in place in different ways. Director IIM Bangalore mentioned that the process of devising a faculty review system after consultations.

The Council was informed that the Government had approved a scheme for enhancing research in IIMs and increase the output of Ph.Ds from each of the existing IIMs. A sum of Rs 95 crore has been approved for an additional 100 Ph.Ds from the IIMs. It was decided to upgrade facilities in hostels and make residential facilities of a world-class level for which a scheme may be prepared by existing IIMs jointly.

Director IIM-Bangalore offered to lead the discussion on bringing out a quarterly journal of IIMs showcasing the research in the IIMs. IIMs Calcutta & Kozhikode jointly offered to organize an international conference bringing together the foremost management thinkers on a platform and learning from global experiences.

On the issue of a common admission policy, it was felt that the admission policy of each IIM was sacrosanct. In order to ease pressure on students and assist the new IIMs in their admission processes it was decided that the IIMs would share their admission information and co-ordinate their counselling systems.

In order to build diversity on campus and attract international students without affecting the national intake, it was decided that IIMs could jointly organize an international road-show pooling their resources for the purpose.

In order to expand the search for management solutions in problems of relevance to the nation and society, it was felt that IIMs have to take the lead in conducting programmes and organise curricula in areas such as energy management, academic institution management, health management, agriculture management etc. It was decided to set up a Task Force for establishing the contours of such programmes.

It was informed that the Government is in the process of providing connectivity to every knowledge institutions through the National Knowledge Network and NMEICT besides providing fibre connectivity to each village through the National Optical Fibre Network. It was decided that a network of institutions can be constructed using technology as the platform for delivering inter-disciplinary courses cutting across knowledge streams.

The IIMs offered their assistance in using technology being created under the two programmes for development of faculty in private management institutions. It was decided to organize a meeting with private management institutions and IIMs to co-ordinate efforts in faculty development of private educational institutions. IIM-Lucknow offered the use of its facility in Noida for the establishment of a Management Academy for the purpose.