The Union Cabinet on Thursday approved the establishment and operationalisation of an Indian Institute of Management (IIM) in Jammu on a transit/temporary campus at the old Government College of Engineering and Technology from the academic year 2016-17.
The project will involve an estimated cost of about Rs 61.90 crore on a temporary campus for the initial four years from 2016 to 2020, an official release said.
The student strength intake for this year in the Post-Graduate Diploma Programme (PGDP) in Management is 54 which will progressively go up to a cumulative student strength of 120 in the 4th year.
Meanwhile, steps would also be taken up for setting up a campus in Jammu and an out-campus in Kashmir region.
The detailed project report for the permanent campuses is under preparation and thereafter the process for setting up of the campuses would start.
The Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860.
The IIM-Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Government of India, which will administer the institute and would be responsible for establishment and operationalisation of the Institute.
This is a part of Prime Minister’s development package for Jammu and Kashmir. This will be third IIM in the region after Amritsar and Rohtak.
The institute, coupled with the opening of an IIT in Jammu, modernisation of NIT-Srinagar and opening of two new AIIMS institutions, one each in Kashmir region and Jammu region, would go a long way in meeting the requirement of high quality living and education in Jammu and Kashmir.
At present, there are nineteen IIMs in the country. Out of these, thirteen IIMs are located in Ahmedabad, Bengaluru, Kolkata, Lucknow, Indore, Kozhikode, Shillong, Ranchi, Raipur, Rohtak, Kashipur, Trichy, Udaipur. Another six IIMs — Amritsar, Sirmaur, Nagpur, Bodhgaya, Sambalpur and Vishakhapatnam — were started in 2015.