Indian Institute of Management Mumbai

Indian Institute of Management Mumbai (IIM Mumbai), formerly known as the National Institute for Training in Industrial Engineering (NITIE Mumbai) and later as National Institute of Industrial Engineering, is a graduate business school under the Ministry of Education (India), Government of India located in Powai near Vihar Lake in Mumbai and is ranked 7th among B-Schools of India as per NIRF 2023 rankings.

History
The National Institute for Training in Industrial Engineering, later the National Institute of Industrial Engineering (NITIE), now Indian Institute of Management Mumbai (IIM Mumbai) was established by the Government of India in 1963 with the assistance of United Nations Development Programme (UNDP) through the International Labour Organization (ILO) to create skilled professionals. It was funded by the Government of India and registered as a society under the Societies Registration Act, 1860.

Conversion to IIM
Noted industrialist Anand Mahindra and HDFC chairman Deepak Parekh had suggested, in 2007, the change in name of NITIE to an IIM, Mumbai. The then Prime Minister Dr Manmohan Singh had promised to look into the issue.

For several years no step was taken in this direction, but recently, on 31 January 2022, the Ministry of Education (India) has constituted a committee of experts to deliberate on the feasibility of bringing the National Institute of Industrial Engineering (NITIE) Mumbai under IIM Act, 2017. The list of experts includes Shri Ashish Kumar Chauhan, MD & CEO, Bombay Stock Exchange & Chancellor University of Allahabad, Prof. Pawan Kumar Singh, Director, IIM Tiruchirappalli, Prof. Pramod Kumar Jain, Director, IIT BHU, Prof. Subhasis Choudhuri, Director, IIT Bombay, Shri Pradeep Goyal, CMD, M/s Pradeep Metals.

A significant milestone was achieved by NITIE Mumbai on 12 July 2023 when the Union Cabinet approved the amendment in the IIM Act, designating NITIE Mumbai as the 21st IIM and renaming it as IIM Mumbai.

On July 28, 2023, The Indian Institutes of Management (Amendment) Bill, 2023 was introduced in Lok Sabha by Union education minister Dharmendra Pradhan. The bill (No. 109 of Year 2023) mentions that: In section 4 of the Indian Institutes of Management Act, 2017 after sub-section (1), the following sub-section shall be inserted, namely:—

"(1A) On and from the date of commencement of the Indian Institutes of Management (Amendment) Act, 2023, the National Institute of Industrial Engineering, Mumbai, shall be called the ‘‘Indian Institute of Management, Mumbai’’ and all the provisions of this Act shall apply to the said Institute."

The Indian Institutes of Management (Amendment) Bill, 2023 was passed by Lok Sabha on Aug 4, 2023 It was also passed by Rajya Sabha on Aug 8, 2023. After receiving the President's assent, the Bill became an Act on Aug 11, 2023.

Academics
IIM Mumbai offers post graduate diplomas in various fields of management and industrial engineering. It also offers doctoral level fellowship programs. Annually, IIM Mumbai trains over 2000 professionals through its various week long Management Development Programs (MDPs) and the unit based programs (UBPs) in different areas of Industrial Engineering & Management.

From the next academic year 2024, these programmes will be replaced by a General MBA course and two specialised MBA in 'Operations and Supply Chain Management' and 'Sustainability Management' respectively.

Rankings
IIM Mumbai is ranked 7th among management schools in India by the National Institutional Ranking Framework (NIRF) in 2023.

2022
The highest package stood at INR 49 LPA with the average package of the top 10% of the batch with 45.37 LPA and top 20% of the batch with INR 38.59 LPA. The average package for the whole batch stood at INR 25.4 LPA with 33% of the Batch of 2022 receiving Pre-Placement Offers (PPO).

2021
Despite the Covid-19 pandemic and the resulting economic downturn, IIM Mumbai recorded excellent placements for the batch of 2021. A total of 130 companies participated in the final placement season at IIM Mumbai this year. The highest package stood at INR 44 Lakhs, with the average of top 10% of the batch at INR 35.84 Lakhs, top 20% of the batch at INR 31.27 Lakhs, top 30% of the batch at INR 24.47 Lakhs and an overall batch average at INR 19.47 Lakhs per year. 28% of the batch received Pre-Placement offers (PPO) through their Summer Internships at top firms.

2023
The highest stipend stood at INR 3.5 Lacs with the average package of the top 10% of the batch with 3.08 Lacs and top 20% of the batch with INR 3.03 Lacs. The average stipend for the whole batch stood at INR 1.85 Lacs with 88% of the Batch of 2023 receiving more than 1 lac.

Student life
IIM Mumbai is a student-run institute that has around 30 Committees and Forums that the students can be a part of. Around a year, these committees organize various events and programs like Sansmaran – Alumni Meet, Avartan – Flagship Business fest of IIM Mumbai, Mahamandi, Arohan, Panel discussions, Leadership talks, Social Volunteering works, etc.