Wednesday, March 27, 2013

IIMs gear up to attract foreign students

The Indian Institutes of Management (IIMs) are gearing up to make a bigger mark in the global arena in order to attract more foreign graduates and make the country's top business schools operationally and financially more autonomous.

The IIMs plan to conduct road shows abroad to attract talent that will make the batch of students more diverse. Some foreign students are already studying at some IIMs but the government expects the number to rise after the proposed law empowers them to award MBA degrees instead of the diploma currently offered.

The majority of the IIM s agree that the power to grant degrees will make the institutes more attractive to foreign students. Currently, many foreign students come to IIMs in exchange programmes and a few of them also take regular courses.

To cater to international students, the IIMs plan to upgrade residential facilities and the standards of faculty and academics, particularly at the new IIMs. This would be financed either through a grant from the
UGC (University Grants Commission) or through interest-free loans. The Ministry of Human Resource Development (MHRD) is keen to set up a Rs. 300-crore (Rs. 3 billion) fund to attract world-class faculty to the newer IIMs, government officials said.

The IIMs are also focusing on steps to become financially more independent. While older IIMs do not depend on annual budgetary support from the government, the new ones get government grants. The IIMs will consider recommendations of the committee headed by Hari Bhartia, such as naming classrooms and buildings after major donors. The Bhartia Committee had been appointed by former HRD minister
Kapil Sibal to look into the aspect of fund raising as part of an effort to improve the autonomy of the IIMs. The IIMs have suggested that the MHRD should pilot a proposal to provide tax breaks for philanthropic contributions.

The IIMs have suggested that workshops be held for each of the institutes. International consultants such as
William J Conner and Julian Marland, who have years of experience in improving the fundraising potential of organisations, will conduct these workshops. IIM-Raipur has already conducted a workshop on fund raising. As part of its effort to stake its claim in the global arena, IIMs plan to bring out a management journal, IIM Business Review. This effort will be spearheaded by IIM Bangalore while IIM-Calcutta will take charge of a world management conference to be held during May 31-June 1.

The heads of all 13 IIMs are scheduled to discuss these issues at a meeting with HRD Minister MM Paalam Raju on Monday. The issues include external peer review from attracting foreign students to improving fund raising capability to improving the quality of faculty and teaching. As part of a roadmap to greater autonomy, IIMs had agreed to institute a system of periodic external peer review. In the next few months, with the approval of the board of governors of each IIM, modalities for conducting such a review will be worked out.

The meeting will consider setting up a system of accreditation for management institutes. Though initially opposed to the idea, the institutes will strive to put in place an annual work plan system and some standardisation of teaching hours to ensure maximum flexibility.

Source: The Economic Times, March 27, 2013

No comments:

Post a Comment

Blog Archive