Aiming at achieving world-class standards, the Indian Institutes of Management (IIMs) on Saturday formed several panels to chalk out a multi-pronged strategy on improving governance, enhancing resource generation and engaging best talents as faculty with higher pay package.
Union HRD Minister Kapil Sibal held a "free-wheeling" interaction with directors of IIMs -- which was also attended for the first time by Chairmen of their Board of directors and some alumni members -- and announced formation of separate groups to study each of these issues and submit recommendations in a month or so.
Sibal told a press conference later that governance issues are a "roadblock" in efficient functioning of IIMs. He said a group would look into how to empower Directors of IIMs and enhance the role of their Boards. It will also study the relationship between the Board, faculty and Director and devise ways for giving the Board more freedom.
Once the group's report is received, the government would apply its mind on changing the rules under which IIMs were constituted, Sibal added.
The Minister said the nature of research in IIMs must change. "Focus must be on emerging challenges of the Indian economy, which is destined to grow, hopefully, at double digit rate in the years to come".
Another group would look at the issue of "contract employment" at IIMs, flexibility of recruitment, restructuring of syllabi. He said a lot of high-quality talent want to come to India, but cannot be absorbed because of the "low salary structure" of the IIMs.