DailyMirror.News,Mumbai, September 6, 2024: On its Foundation Day, IIM Mumbai announced a landmark investment of ₹800 crores to modernize and expand its campus with state-of-the-art facilities. This transformative project aligns with the institute’s meteoric rise to 6th place in national rankings within just a year of its rebranding as an Indian Institute of Management (IIM).

Speaking on the occasion, Mr. Shashi Kiran Shetty, Chairman of IIM Mumbai’s Board of Governance and Founder and Chairman of Allcargo Group, inaugurated the commencement of the new development. He emphasized the institute’s dedication to providing a world-class environment for students, particularly in the fields of Artificial Intelligence (AI) and cutting-edge technology.

A Vision for Innovation and Excellence

The event was graced by Dr. Satheesh Reddy, President of the Aeronautical Society of India and former Chairman of DRDO, who laid the foundation stone for the ambitious project during a traditional Bhumi Pujan ceremony. Dr. Reddy, widely recognized for his contributions to India’s defense sector, expressed his excitement about the project’s potential to drive technological advancements in academia.

Reflecting on this pivotal moment, Mr. Shetty remarked, “This marks a defining milestone in IIM Mumbai’s journey to becoming one of the world’s premier management institutes. Our vision is to build a 21st-century campus that exceeds global standards in infrastructure and pedagogy. With the strategic advantage of our Mumbai location and the prestigious IIM brand, we are attracting top talent from across the globe.”

Campus of the Future

The upgraded campus will feature a sprawling, eco-friendly, net-zero design, offering world-class accommodation for students and faculty. The centerpiece of the development includes an Innovation Center focused on AI, fintech, and banking, alongside a cutting-edge research hub and a library equipped with global resources. The campus will also host a Management Training Center, offering certification programs to industry professionals.

Other notable additions include:

  • Startup ecosystem development spaces
  • Management Development Programs (MDPs)
  • A large auditorium for seminars and conferences
  • A state-of-the-art AI research hub
  • Residential accommodations for students and faculty

Continuing a Legacy of Excellence

Formerly known as NITIE, IIM Mumbai has a rich legacy in industrial and engineering education. Its transition to an IIM has seen the institute rapidly climb the ranks of India’s top business schools. The 65-acre campus, located in the heart of Mumbai and surrounded by scenic lakes, has become a crucial part of the city’s academic landscape.

Prof. Manoj K Tiwari, Director of IIM Mumbai, shared his vision for the institute’s future, noting that new courses tailored to emerging industries will benefit both students and professionals. He also highlighted plans for multiple collaborations with leading academic and industry partners, aimed at fostering knowledge exchange and innovation on a global scale.

Supporting India’s Growth Vision

Under the leadership of Mr. Shetty and Prof. Tiwari, IIM Mumbai is playing a key role in advancing Logistics and Supply Chain Management, contributing significantly to the PM Gati Shakti National Master Plan. The institute is also making strides in aligning its educational offerings with national policies and the vision of a ‘Naya Bharat.’

Looking ahead, Mr. Shetty added, “We are confident that this project will garner strong support from leading corporations through their Corporate Social Responsibility (CSR) initiatives. This endeavor will set new benchmarks in educational infrastructure and cement IIM Mumbai’s position as a global leader in innovation and sustainable development.”