IIM Mumbai Unveils Rs 800-Crore Infrastructure Expansion Plan

The Indian Institute of Management (IIM) Mumbai has launched a substantial infrastructure development plan valued at Rs 800 crore, set to unfold in three phases over the next five years. This ambitious project is designed to significantly enhance both academic and residential facilities, as well as introduce new amenities to support the institute’s growing needs.

The first phase of the development will be supported by an initial allocation of Rs 100 crore. To further fund the project, IIM Mumbai plans to raise an additional Rs 200 crore through the Higher Education Financing Agency (HEFA), a collaboration between the Government of India and Canara Bank. Furthermore, the institute aims to secure Rs 300 crore via Viability Gap Funding (VGF), with substantial contributions expected from Corporate Social Responsibility (CSR) funds.

Among the key features of the development plan is the establishment of an Innovation Centre focused on banking, finance, and fintech. The project also includes the creation of an AI-based research hub and an upgraded library, all aimed at fostering a robust start-up ecosystem and advancing research capabilities.

In addition to infrastructure improvements, IIM Mumbai will soon launch new courses in collaboration with industry partners. These courses will cover emerging fields such as manufacturing, digital logistics, maritime logistics, fintech, and design thinking, ensuring that the curriculum remains relevant to the evolving business landscape.

This comprehensive overhaul is expected to not only bolster IIM Mumbai’s academic offerings but also enhance its position as a leading institution in innovation and research, driving significant progress in both education and industry.

News by Rahul Yelligetti