IIM-Ahmedabad seeks Rs 316 crore loan for mega infrastructure revamp; 5 things about India’s premier management institute, its plan

By: | Published: October 22, 2018 9:00 AM

IIM-Ahmedabad is considered as one of the premier business and management schools in India. It was establishment in 1961 in Ahmedabad.

Indian Institute of Management (IIM)-Ahmedabad authorities have chalked out a plan to have separate housing facility for teachers, students and staff, a new academic complex and a state-of-the-art sports complex and sports field. These will be part of their proposed 10 lakh square feet of academic and support facilities, according to Indian Express report. IIM-A has sought a loan of Rs 316 crore from the Higher Education Funding Agency (HEFA) for this mega plan of expanding the infrastructure to accommodate 380 more students, the IE report says.

In a letter to Ministry of Human Resource Development, IIM-A director Erol D’Souza wrote that IIM-A intended to expand the portfolio of programmes and also increase the intake of students in each programme in order to meet the growing need for well-trained and skilled professionals in various fields of management in India and abroad. “However, the institute feels constrained in doing so due to shortage of academic and allied infrastructure,” D’Souza was quoted as saying by IE.

Five things you should know about mega plan of IIM-Ahmedabad

IIM-Ahmedabad is considered as one of the premier business and management schools in India. It was establishment in 1961 in Ahmedabad. The institute says that it “aims to continue to be recognized as a premier global management school operating at the frontiers of management education and practice while creating a progressive and sustainable impact on society.”

Both IIMA and its programmes have been consistently ranked highly in several international rankings and also by a number of national agencies. In 2008, IIMA became the first management school in the country to be awarded EQUIS (European Quality Improvement System) accreditation by the EFMD (European Foundation for Management Development), as per the website of IIM-Ahmedabad.

At present, IIM-A offers six programmes. Over 1,000 students reside on its campus spread over 103 acres. The current infrastructure of the institute is 50 years old. The funds if granted will be used to finance its restoration, conservation and upgradation, D’Souza stated in the letter.

If the HEFA, which was set up by the government as a Section 8 company with charitable objectives, approves the loan, the amount will be spent on five new projects- a new sports complex spanning 5,200 square metres including a swimming pool, sports area, gymnasium, yoga centre, badminton and basketball courts, student hostel with 384 single occupancy rooms, a new academic complex spread over 2.24 lakh square feet, faculty housing containing 56 apartments and a new accommodation facility for institute staff, the IE report says.

Around Rs 89 crore has been enmarked for the academic complex, Rs 27 crore will be spent the sports complex and field, Rs 104 crore is for student housing, Rs 39 and Rs 58 crore will be spent on staff housing and faculty housing respectively.

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