In accordance with a recent announcement of the state government, the proposed Indian Institute of Management (IIM) in Maharashtra will be set up in Nagpur. It will be the first IIM in Maharashtra and will start working from 2015-16 educational sessions.
As per officials, the IIM will be functional from the Visvesvaraya National Institute of Technology (VNIT) as VNIT sources clarified that the campus have been chosen as a short-term location because of sufficient facilities. The institute is also enthusiastic to contain the first batch of around 60 IIM students until and unless the permanent IIM campus is completely build up.
The permanent campus is designed at a 293-acre site in Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN), and the state government is trying to establish a new IIM in Mihan to be functional by the year 2018 and admissions start off from the next educational session.
Mumbai, Aurangabad and Pune were also measured for the IIM permanent campus, but Nagpur was deemed the most suitable which has all the standards required for the IIMS. As per the officials the last decision on the subject of the commencement will be taken by the Ministry of Human Resource Development (MHRD) once the government sent its suggestion.
The Finance Minister Mr Arun Jaitley made various positive initiatives for the education sector in the Union Budget 2014 and allocated funds for six new IIMs to be established in Odisha, Andhra Pradesh, Bihar, Punjab and Himachal Pradesh.