So far only for engg grads, NITIE as IIM-Mumbai will have all students

From the next academic year, students from all backgrounds will be admitted to three MBA programs through Common Admission Test (CAT). While the institute plans to continue with the same intake capacity for new courses, the fee structure is likely to change. After both Houses of Parliament gave their nod to Indian Institutes of Management (Amendment) Bill 2023 in the ongoing Monsoon Session, the NITIE will be IIM-Mumbai, officially.

On Wednesday, the institute made an official announcement of the beginning of its transformation journey as it awaits the final gazette to be issued by the President of India, the final step in NITIE’s journey towards IIM-Mumbai. From academic year 2024-’25, it will offer three courses — MBA General, MBA in Sustainability Management and MBA in Operations and Supply Chain Management. So far, NITIE offered postgraduate diploma courses only for engineering graduates in three areas — Industrial Engineering, Industrial Management and Sustainability Management.

NITIE director professor Manoj Tiwari, said, “These courses, with new nomenclatures, will continue with the same capacity to be able to comfortably accommodate all on campus. We have also begun infrastructural augmentation such as building new hostels and other facilities with an aim to be able to increase the intake capacity in future.”

The director also mentioned that corporate assistance will be explored for financial support required for such development as the institute plans to create self-reliant models to reduce dependency on government grants.

While new admissions will be done for the MBA programmes to be offered from the next academic year, existing students will also receive IIM degree as they graduate. Tiwari, said, “Once we are IIM-Mumbai, the degrees to be awarded to existing students will have to be reworked. With options such as credit rearrangements and others, these students too will receive an IIM degree, but not exactly an IIM-MBA. The details have to be worked upon.”

This, along with the new fee structure, will be finalised in forthcoming meetings of the board of Governors, he said. At present, the NITIE charges Rs 6.5 lakh for PG diploma in Industrial Engineering and Rs 7.5 lakh for PG Diploma in Industrial Management. Tiwari indicated that the fee structure might increase, adhering to the IIM Act provisions for the same.

“But our existing scholarships offered with help from the industry will be maintained and more new options will be brought in,” he said, assuring that high Return of Investment (ROI) for students is maintained successfully by the institute through strong placement support. “We already have an excellent placement record in industrial engineering and management. We will now have to venture into areas such as finance, marketing, etc., that are new to us,” he said.

As it gains the IIM-Mumbai status, the NITIE is celebrating its Diamond Jubilee Year. Shashi Kiran Shetty, chairman of Society and board of Governors of NITIE who is chairman and Founder of Allcargo group, said, “The plan to bring IIM status for NITIE has been ongoing for over 20 years. But it gained momentum in the past couple of years and I am overwhelmed that it has concluded successfully. It is a moment of pride not only for NITIE but also for Mumbai, the financial capital of India.”