Mumbai’s NITIE to become IIM-Mumbai; first in country’s financial capital

The reputed city institute made the much-awaited announcement through a Twitter post, which states, “Both Houses of Parliament has passed IIM (Amendment) Bill 2023. The National Institute of Industrial Engineering (NITIE), Mumbai – well known for its techno-managerial strength and expertise in Supply Chain and Management, has been included in the Schedule of IIM Act.”

It continued, “NITIE will be renamed as IIM, Mumbai. The long-cherished dream of having an IIM at Mumbai will be achieved. IIM, Mumbai will be available to further improve the global positioning of the financial capital of India.” The IIM (Amendment Bill) 2023 replaces the IIM Act of 2017.

Among several changes, it states that the President of India will be the visitor of every institute with powers to audit their functioning.

In July, the Union Cabinet approved the Bill amending the IIM Act which also includes upgrading the status of NITIE as IIM Mumbai.

Earlier this month, Lok Sabha passed the bill and Rajya Sabha approval was pending.

Located in Mumbai’s Powai, on the banks of Vihar Lake, NITIE has a campus spread across 63 acres of forested hilltop.

En route to becoming IIM, different infrastructural projects were already in motion at the institute.

The institute has already shown consistent improvement in NIRF rankings from 12th in 2017 to 7 in 2023.

Recently it changed its admission criteria slightly to ensure gender diversity on its campus by allowing candidates with Master in Science (M Sc) in Mathematics and Statistics to apply for the Post Graduate Diploma in Management (PGDIM) offered by NITIE which admitted only engineers until now.

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