AIMING at building on their global reputation and ranking,the Indian Institutes of Management (IIMs) plan to woo foreign students. Starting off with a series of global road shows to create a buzz around the IIM brand,the business schools will also introduce a qualitative improvement in the facilities offered at the campus,so that it suits international students.
All the IIMs will be enhancing facilities in order to attract foreign students over the 12th plan period. Funds for improving residential facilities at the premier B schools will be sourced from the University Grants Commission or All India Council of Technical Education through interest free loans or their own resources. The Human Resource and Development (HRD) Ministry has asked IIMs to send Detailed Project Reports for this makeover plan.
The IIMs have got a go ahead to hold road shows across the world. Each IIM is in the process of finalising date and venue of these road shows with their Board of Governors,said ministry officials. Incidentally,the IIMs will also host the first IIM World Conference in Kolkata in May.
The ministry will hold a meeting with all IIM directors on April 1 on a range of issues,including the foreign student plan,the contentious draft IIM Bill that seeks to confer degree granting powers to all IIMs and to set up a pan IIM Council.
Also slated for discussion is a proposal to set up an accreditation organisation that can conduct accreditation of management institutes and a national management academy to work on management reform,focussing on governance,policy making,faculty development,introduction of global managerial standards and global best practices.
The HRD ministry,it is learnt,plans to take to the Finance Ministry a proposal for tax breaks for philanthropic contribution to public funded institutions. Based on recommendations of a committee,headed by IIM-Raipur chairman Hari Bhatia,fund raising options like naming rooms/ classrooms after donors are under active consideration.
In another move,aimed as much at reform within the system as at earning greater international credibility,the IIMs have indicated they are agreeable to an external peer review. The first such external peer review will roll out soon.
The move to go global follows from the autonomy road map for IIMs rolled out by the HRD ministry in November 2011 permitting IIMs to admit 10 per cent foreign students.
To ensure that new IIMs do not get left behind,the HRD ministry has approved a Rs 300 crore interest-free loan to help them attract quality faculty and advised them to opt for open course ware,smart classrooms,sharing faculty and library resources.