The 13 Indian Institutes of Management (IIMs), primarily offering postgraduate, doctoral and executive education programmes, ad run by registered societies will now offer MBA Degree instead of Post Graduate Diplomas at the end of their two-year programmes . The bill will be introduced in Parliament during the Budget session.
According to HRD ministry officials, the Bill has been examined by the law ministry and currently needs minor rewriting. These legislation will make the IIMs of national importance and confer degree granting powers.
The graduates applying abroad for further research opportunities will be benefited under this bill, when passed. The current status is that any IIM alumnus will have to request the authorities of the IIM institute to provide a certificate that states that the diploma is equivalent to an MBA degree in the country.
However, once the Bill has been passed, the IIMs will earn global recognition and will also attract more and more foreign students as compared to now where they attract the international students to only from 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 recognized globally than a PGDM,” said IIM Calcutta director Saibal Chattopadhyay.
Now Students will pass out form IIM with MBA degree after the bill passed in the Parliament.
The proposed legislation has been in the process for years. Consultations between the IIMs and the government has had its share of ups and downs with the former always guarding their autonomy. After all, anything that helps further strengthen the IIM brand globally is a heartening move, as quoted by Saugata Gupta, MD & CEO, Marico and alumnus of IIM Bangalore.