As a part of the centre’s legislative agenda for the upcoming monsoon session, 24 bills were proposed for “introduction, consideration and passing”. The Indian Institute of Management (Amendment) Bill 2022 is one among them and it seeks for the “inclusion of NITIE Mumbai in IIM Act 2017 and renaming NITIE, Mumbai as IIM Mumbai”.

An expert committee was formed by the Union Ministry of Education to study the feasibility of the Bill. Ashishkumar Chauhan, the Chief of Bombay Stock Exchange and the Chancellor of Allahabad University, headed the committee. NITIE has been a pioneer in providing education to young people in the fields of industrial engineering, engineering management, and management science.

NITIE Mumbai is spread across 63 acres, in Powai, Mumbai. All outdated infrastructure is being upgraded, including all structures, lighting, roads, boundary walls, and common areas. The institute's infrastructure upgrade plan as it moves toward IIM status includes internal and external rehabilitation of all six hostels, cafeterias, 14 residential buildings, and five office buildings.

7 new IIMs have received approval from the Union Cabinet since 2015, which is presided over by Prime Minister Narendra Modi. These are IIM Amritsar, IIM Bodh Gaya, IIM Nagpur, IIM Sambalpur, IIM Sirmaur, IIM Vishakapatnam and IIM Jammu. These institutions were founded in the years 2015–2016 and 2016–2017. Overall, this resulted in 20 IIMs in India.

Sources:
Times of India
Financial Express
The Print