The Union ministry of human resources development (HRD) has entrusted the task of mentoring the new Indian Institute of Management (IIM) to be set up at Udaipur, Rajasthan, to IIM Ahmedabad.
"The government has appointed noted industrialist C.K. Birla as chairman of the board of the new institute," IIM-A Director Samir Barua told a press conference in Ahmedabad on Wednesday. "A director will be selected shortly (for IIM-U)," he added.
Land for the new institute, which will commence its first academic session from 2011, has already been identified.
"The ministry has also given IIM-A the green signal to set up a campus abroad, but we will focus on the new IIM for now," said Barua.
Turning to the faculty crunch at the premier management institute, he said IIM-A has currently 94 faculty members against the required number of 110.
"We have recruited 28 faculty members over the last 2-3 years but there is still a 15 per cent shortage," he added.
Meanwhile, the institute has admitted 380 students in its postgraduate management programme for 2010-12 and 40 students in its post-graduate agri- business management (ABM) programme.