Indian Institute of Management Mumbai

TheIndian Institute of Management Mumbai(IIM MumbaiorIIM-M), formerly known as theNational Institute for Training in Industrial Engineering(NITIE Mumbai) and later asNational Institute of Industrial Engineering, is a reputedgraduatebusiness schoolunder theMinistry of Education (India),Government of Indialocated inPowainear Vihar Lake inMumbai,Maharashtraand is ranked 6th amongB-SchoolsofIndiaas perNIRF2024 rankings.
The National Institute for Training in Industrial Engineering,later the National Institute of Industrial Engineering (NITIE), now Indian Institute of Management Mumbai (IIM Mumbai) was established by the Government of India in 1963 with the assistance ofUnited Nations Development Programme(UNDP) through theInternational Labour Organization(ILO) to create skilled professionals. It was funded by theGovernment of Indiaand registered as a society under the Societies Registration Act, 1860.
NotedindustrialistAnand MahindraandHDFCchairmanDeepak Parekhhad suggested, in 2007, the change in name of NITIE to anIIM, Mumbai.The then Prime MinisterDr Manmohan Singhhad promised to look into the issue.
For several years no step was taken in this direction, but recently, on 31 January 2022, theMinistry of Education (India)has constituted a committee of experts to deliberate on the feasibility of bringing the National Institute of Industrial Engineering (NITIE) Mumbai underIIM Act, 2017.The list of experts includesShri Ashish Kumar Chauhan, MD & CEO, Bombay Stock Exchange & ChancellorUniversity of Allahabad, Prof. Pawan Kumar Singh, Director,IIM Tiruchirappalli, Prof. Pramod Kumar Jain, Director,IIT BHU,Prof. Subhasis Choudhuri, Director,IIT Bombay, Shri Pradeep Goyal, CMD, M/s Pradeep Metals.
A significant milestone was achieved by NITIE Mumbai on 12 July 2023 when the Union Cabinet approved the amendment in the IIM Act, designating NITIE Mumbai as the 21st IIM and renaming it as IIM Mumbai.
On July 28, 2023, The Indian Institutes of Management (Amendment) Bill, 2023 was introduced inLok Sabhaby Union education ministerDharmendra Pradhan.The bill (No. 109 of Year 2023) mentions that: In section 4 of theIndian Institutes of Management Act, 2017after sub-section (1), the following sub-section shall be inserted, namely:—
"(1A) On and from the date of commencement of the Indian Institutes of Management (Amendment) Act, 2023, theNational Institute of Industrial Engineering, Mumbai, shall be called the ‘‘Indian Institute of Management, Mumbai’’and all the provisions of this Act shall apply to the said Institute."
The Indian Institutes of Management (Amendment) Bill, 2023 was passed byLok Sabhaon Aug 4, 2023It was also passed byRajya Sabhaon Aug 8, 2023. After receiving thePresident'sassent, the Bill became an Act on Aug 11, 2023.
IIM Mumbai offerspost graduate diplomasin various fields ofmanagementandindustrial engineering. It also offers doctoral levelfellowship programs. Annually, IIM Mumbai trains over 2000 professionals through its various week long Management Development Programs (MDPs)and the unit based programs (UBPs) in different areas of Industrial Engineering & Management.
From the next academic year 2024, these programmes will be replaced by a GeneralMBAcourse and two specialised MBA in 'OperationsandSupply Chain Management' and 'Sustainability Management' respectively.
IIM Mumbai is ranked 6th among management schools in India by theNational Institutional Ranking Framework(NIRF) in 2024.
The highest package stood at INR 49 LPA with the average package of the top 10% of the batch with 45.37 LPA and top 20% of the batch with INR 38.59 LPA. The average package for the whole batch stood at INR 25.4 LPA with 33% of the Batch of 2022 receiving Pre-Placement Offers (PPO).
Despite theCovid-19pandemic and the resulting economic downturn, IIM Mumbai recorded excellent placements for the batch of 2021. A total of 130 companies participated in the final placement season at IIM Mumbai this year. The highest package stood at INR 44 Lakhs, with the average of top 10% of the batch at INR 35.84 Lakhs, top 20% of the batch at INR 31.27 Lakhs, top 30% of the batch at INR 24.47 Lakhs and an overall batch average at INR 19.47 Lakhs per year. 28% of the batch received Pre-Placement offers (PPO) through their Summer Internships at top firms.
The highest stipend stood at INR 3.5 Lacs with the average package of the top 10% of the batch with 3.08 Lacs and top 20% of the batch with INR 3.03 Lacs. The average stipend for the whole batch stood at INR 1.85 Lacs with 88% of the Batch of 2023 receiving more than 1 lac.
IIM Mumbai is a student-run institute that has around 30 Committees and Forums that the students can be a part of. Around a year, these committees organize various events and programs like Sansmaran – Alumni Meet, Avartan – Flagship Business fest of IIM Mumbai, Mahamandi, Arohan, Panel discussions, Leadership talks, Social Volunteering works, etc.