NITIE to be renamed IIM Mumbai; both houses of Parliament pass IIM (Amendment) Bill 2023

NEW DELHI: The National Institute of Industrial Engineering, or NITIE, has been renamed as the Indian Institute of Management Mumbai. The institute has now been included in the Schedule of IIM Act. Both houses of the parliament have passed the Indian Institute of Management (Amendment) Bill 2023 by replacing the IIM Act of 2017 .

Announcing the passing of the Bill in both houses, a social media post of NITIE said: “Both Houses of Parliament has passed IIM (Amendment) Bill 2023. The National Institute of Industrial Engineering (NITIE), Mumbai – well known for its techno-managerial strength and expertise in Supply Chain & Management, has been included in the Schedule of IIM Act.”

“NITIE will be renamed as IIM, Mumbai. The long-cherished dream of having an IIM at Mumbai will be achieved. IIM, Mumbai will be available to further improve the global positioning of the financial capital of India,” it added.

NITIE will be renamed as IIM, Mumbai. The long-cherished dream of having an IIM at Mumbai will be achieved. IIM, Mumbai will be available to further improve the global positioning of the financial capital of India. #PMGatiShakti #MyGov #AmritMahotsav #IndiaAt75 @allcargofficial

— NITIE Mumbai (@NITIE_Official) August 8, 2023

IIM Mumbai will now be the 21st IIM in the list of the Indian Institutes of Management and second in Maharashtra after IIM Nagpur.

Also Read | President will be Visitor to IIMs with power to appoint, remove directors

According to the IIM (Amendment) Bill 2023, the President of India will be the Visitor of every institute.

"The Visitor may appoint one or more persons to review the work and progress of any institute, to hold enquiries into affairs thereof and to report in such manner as the Visitor may direct. The board may also recommend to the Visitor an enquiry as deemed proper against the institute which has not been functioning in accordance with provisions and objectives of the Act," the bill said.