Mumbai, September 6, 2024: On its Foundation Day, IIM Mumbai has announced an investment of INR 800 crores for its campus enhancement project. This significant investment will help towards modernizing and developing state-of-the-art facilities on the campus. The initiative comes on the heels of the institute’s rapid ascent to the 6th position in national rankings within a year of its establishment.

To mark Teachers’ Day, Mr. Shashi Kiran Shetty, Chairman, Board of Governance, IIM Mumbai and Founder and Chairman, Allcargo Group, inaugurated the commencement of the new facilities, underscoring the institute’s commitment to fostering innovation and excellence. Mr. Shetty emphasized the institute’s dedication to providing students with an optimal environment for exploring Artificial Intelligence (AI) and technology.

Commenting on the occasion, Mr. Shashi Kiran Shetty, Chairman, Board of Governance, IIM Mumbai and Founder and Chairman, Allcargo Group said, “This occasion will go down in the history of IIM Mumbai as a key milestone which marks the journey of this premier institute towards becoming one of the best B-schools in the world. The initiative to upgrade the campus is a part of our goal to develop a 21st century infrastructure capable of exceeding the global standards. Thanks to the prestigious IIM tag and the strategic location of the campus in Mumbai, the institute has started attracting faculty and students across the world. With state-of-the-art infrastructure, excellent faculty and best-in-class pedagogy, IIM Mumbai will emerge as the best management institute in the world, producing best in quality leadership and entrepreneurship.”

The forthcoming facilities will include sprawling net zero campus of the future with world class residential accommodation for faculty & students, startup eco system development, Management Development Programs and large auditorium. Additionally, the facility will include an Innovation Center focused on banking, finance, and fintech, an AI-based research hub, and a state-of-the-art library connecting students with global resources. The campus will host a prominent Management Training Center, offering certification courses and serving as a focal point for industry leaders.

Formerly known as NITIE, IIM Mumbai has a strong legacy in industrial and engineering education. Since its transition to an IIM, the institute’s climb to 6th position this year in national rankings underscores the benefits of this change. Situated in India’s financial hub, IIM Mumbai is a significant development for the mega city.

Prof. Manoj K Tiwari, Director, IIM Mumbai, shared insights into the institute’s future direction, highlighting the introduction of new courses benefitting students and professionals. He also mentioned multiple partnerships with Indian and international communities, aimed at enriching the mission of knowledge sharing and global engagement.

Established in 1963 as NITIE, this institution has become a cornerstone of management education in India. A 65-acre campus surrounded by scenic landscapes with lakes on three sides, the institute hosts more than 1,200 students and is ranked among India’s top B-schools. The leadership of Mr. Shashi Kiran Shetty, Chairman of IIM Mumbai’s Board of Governors, and Prof. Manoj K Tiwari, Director, has been instrumental in advancing Logistics and Supply Chain Management and supporting the PM Gati Shakti National Master Plan. Known for its industry-aligned educational programs, IIM Mumbai contributes to national policies, reflecting the vision of Naya Bharat.

“We are confident that this project will continue to receive strong support from leading companies through their Corporate Social Responsibility (CSR) funds. It is poised to set new benchmarks in educational infrastructure, fully aligning with IIM Mumbai’s vision of becoming a global leader in innovation and sustainable development. This effort underscores the respected role of Indian leadership in driving progress not only within the country but also on the world stage.” Added Mr Shetty.