From rxpgnews.com
IIM-B set to log into Singapore
Jan 21, 2006 - 8:17:00 PM
New Delhi, 20 (IANS) The Indian Institute of Management-Bangalore (IIM-B) has initiated steps to pave the way for setting up campuses abroad ahead of a meeting of IIM directors convened Feb 1 by Human Resource Development Minister Arjun Singh.
The IIM-B board Friday approved a plan to effect changes and amendments in its memorandum of association to remove impediments to starting a campus in Singapore.
The board is expected to present the amended memorandum at the meeting.
IIM-B director Prakash. G. Apte Friday said the board had approved changes in the memorandum of association to start the Singapore campus.
He also announced that student intake would be increased to 270 in the forthcoming academic session and perhaps to 300 in 2007.
The memorandum of association, which was signed by IIM and the central government, limits the institution to set up campuses only within India.
The move to amend it came after Arjun Singh said the government was not opposed to IIMs setting up campuses, but that they should stick to legalities laid down under the agreement.
This was seen as a softening of stance by the government, which had earlier turned down the IIM-B plan to set up a campus in Singapore.
The institute has also complied with Singh's directive by announcing an increase in student intake. Singh had declared the IIMs must meet the increasing demand for management education within the country by taking in more students before venturing to foreign shores.
India Inc has hailed IIM-B's expansion plan since industry has been keen that the government reconsider its decision not to allow premier engineering and management institutes to expand overseas.
According to an Assocham survey, over 85 percent of 150 CEOs and managing directors surveyed said the apprehension that the overseas expansion plans of IIM-B would be at the cost of domestic expansion was misplaced.
More than 90 percent said Indian business schools like the IIMs have already established their reputation among the world's best employers, but considerable ground needs to be covered to join the league of best institutions like the Massachusetts Institute of Technology, Assocham said.
IIM-B has been recognised as one of the best international business schools since its inclusion in the Wall Street Journal's list of top 100 business schools worldwide. It was the only Indian facility on the list.
Indo-Asian News Service
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