IIMs in Global Arena, Attempt to Lure Foreign Students

IIMs in Global Arena, Attempt to Lure Foreign Students

By SiliconIndia   |   Wednesday, 27 March 2013, 10:01 Hrs   |    1 Comments
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Bangalore: The Indian Institutes of Management (IIMs) are all set to lure more foreign graduates and make itself operationally and financially more autonomous, reports Urmi A Goswami for ET Bureau.

The country's top business school plans to perform road shows abroad to attract talent in order to make the batch of students more diverse. A few foreign students are already studying at some IIMs but the government is anticipating the number to rise after the proposed law allows them to award MBA degrees instead of the diploma that is currently offered.

Most of the IIMs concurred that the power to grant degrees will make the institutes more attractive to overseas students. Presently, several foreign students come to IIMs in exchange programmes, while a few of them also take regular courses.

In order to accommodate the international students, the IIMs plan to upgrade residential facilities and the standards of faculty and academics, mainly at the new IIMs. A grant from the UGC or through interest-free loans would finance these. As per government officials the HRD ministry is eager to set up a 300-crore fund to draw world-class faculty to the newer IIMs.

The IIMs are also looking at becoming financially more independent. Even as older IIMs do not depend on annual budgetary support from the government, the new ones receive government grants. Further, the IIMs have suggested that the HRD ministry should pilot a scheme to provide tax breaks for philanthropic contributions.

IIMs also plan to bring out a management journal, IIM Business Review, as an attempt to make a greater mark in the global arena. The effort will be led by IIM Bangalore.

At a meeting with HRD Minister MM Paalam Raju the heads of all 13 IIMs are scheduled to discuss issues including external peer review, improving fund raising capability and improving the quality of faculty and teaching, and attracting international students.

Also Read: IIM-A Director to be Paid Rs 1 Crore as Annual Package

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Reader's comments(1)
1: way to go!
Posted by:ray - 27 Mar, 2013