Now, IIMs can go global
Finally, Government has given its go-ahead to IIMs' global expansion plans.india Updated: Feb 04, 2006 19:18 IST
Relenting on its rigid stance, Government on Wednesday gave its nod to Indian Institutes of Management (IIMs) to go global after amending their Memoranda of Associations.
In a quid pro quo IIMs decided to enhance intake of students in the country, a condition set by the Government.
"There is absolutely no conflict between us and the Government. The Ministry said amend the MoA and go ahead (in setting up campuses abroad)", IIM-Bangalore Director Prakash Apte said after a nearly 90-minute meeting between Directors of all IIMs and HRD Minister Arjun Singh.
Describing the meeting as "productive and cordial", Apte said the Minister and the Ministry had always been supportive of IIMs.
Though the meeting convened by Singh was to deliberate on issues relating to autonomy and measures needed to further strengthen the prestigious B-schools, it is understood to have focused on the Ministry's denial of permission to IIM-B to set shop in Singapore.
IIM-Bangalore's ambitious plan to open a campus in the ASEAN nation got a jolt on January 11 when the HRD ministry refused it permission and asked it to first cater to the huge domestic demand.
From taking a policy stand that IIMs should cater to domestic demands to finding fault with their MoAs, Singh at one point had even said these institutions were not corporate entities.