Click to play videoThe top B-school Indian Institute of management (IIM) had been pressing for a demand since long which has now been agreed to by the Centre on the eve of the Diwali festival.
The IIMs can now establish campuses abroad. The Government has agreed to let IIMs set up shops abroad as per its long standing demand . The IIMs will have better autonomy in choosing their directors and board members.
Director of IIM Kozhokode, Debashish Chaterjee said, "He (Union HRD Minister Kapil Sibal) has promised us no interference and is willing to give us more autonomy."
There has been more and more enhancement of autonomy to the IIms, with the government agreeing to extricate itself from the entire process of apponting IIM Directors and Board members.
Union HRD Minister Kapil Sibal said, "We will have a collegium process through which appointments to the Board and of Directors to the IIMs will be made."
The modalities of the process of setting up shop abroad will be finalsed in another IIM-council meeting early next year.
Whether the HRD ministry was headed by Murli Manohar Joshi or Arjun Singh, relations between the IIMs and the Government have remained strained for the last 10 years. At one point, there was an open confrontation between the ministry and IIM Bangalore when the institute tried to set up shop in Singapore.
For once, the IIMs appear to be satisfied but the onus is clearly on the business institutes to prepare a blue print for the hard won autonomy.
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