Indian Institute of Management, Ahmedabad (IIM-A) on Friday announced it will increase its intake of students from next year.
IIM-A's expansion, which will be done in a phased manner, gets underway next year.
After an IIM-A board meeting chairman NR Narayan Murthy told media persons that the expansion will be spread over three years.
IIM-A, which had stopped accepting central grants in 2002, has decided to ask for grants to go ahead with the expansion plan.
"We will need 40 acres and we will soon be approaching the Gujarat government in this regard. For the one time investment of around Rs.840 million, we will approach the central government," said IIM-A director Bakul Dholakia.
IIM-A board also approved the intake of additional faculty.
"We will need 38 more faculty members. We plan to improve the student-faculty ratio. The expansion will be done in a phased manner," said Dholakia.
Besides reserving 27 percent seats for the Other Backward Classes (OBC) as recommended by the Moily committee, IIM-A has decided to increase an equal number of seats for the general category students.
Thus the seat intake will go up by 54 percent.
Besides approving the detailed project report for implementation of the reservation policy, IIM-A board gave a green signal to a proposal to constitute an International Advisory Council and M.N. Banga was appointed its chairman.
IIM-A also resolved to form a gender resource centre to ensure gender equality in the corporate sector.