Years after it was first proposed, the government is finally ready with a legislation empowering the 13 Indian Institutes of Management (IIM) to award degrees to students instead of diplomas. The bill will be introduced in Parliament during the Budget session.
According to HRD ministry officials, the Bill has been vetted by the law ministry and currently needs minor rewriting.
“They’ve (law ministry) mostly suggested changes to the language. The spirit of the Bill is the same,” said a senior ministry official, who did not wish to be identified. “We’re aiming to introduce it during the Budget session.”
Unlike the IITs, which are governed by their own Act of Parliament, the IIMs are run by registered societies and therefore, award postgraduate diplomas at the end of their two-year programmes instead of an MBA.
The proposed legislations will make the IIMs institutes of national importance and confer degree granting powers.
The Bill, when passed, will mainly benefit graduates applying abroad for research opportunities. Currently, an IIM alumus has to request his or her respective institute to provide a certificate saying that the diploma is equivalent to an MBA degree in India. This step will also help IIMs gain global recognition and attract more foreign students. As of now, their international appeal is limited to students of Indian origin.
“It is a welcome move and one that students, in particular, will greatly benefit from. Students of the fellowship programme which is equivalent to a PhD have always faced a problem abroad explaining that the two (fellowship and PhD) carry the same weight. This bill will help them as also the PGP students for whom, now, a master’s degree will be far more recognised globally than a PGDM,” said IIM Calcutta director Saibal Chattopadhyay.
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“Moreover, like in the case of the IITs, getting this Bill passed through an Act of Parliament gives IIMs the legitimacy they deserve,” he added.
“Anything that helps further strengthen the IIM brand globally is a heartening move. Having said that, Indian talent especially from the IITs and IIMs is already globally recognised. The focus should be to ensure a robust and rigorous selection process to continue to maintain the quality of students,” said Saugata Gupta, MD & CEO, Marico and alumnus of IIM Bangalore.
The proposed legislation has been in the making for years. Consultations between the IIMs and the government has had its share of ups and downs with the former zealously guarding their autonomy. Although the government started with the IIT Act as a template for the IIM Bill, but, according to ministry sources, the premier B-Schools have managed to protect their governance structure and autonomy to a great extent.
Article courtesy Economic Times. Read more.