Based on the proposal of a law, which will allow the IIM's to grant students MBA degrees rather than diploma's. As a result, the number of students from foreign countries are expected to rise simultaneously.
Till now, foreign students came to IIM's as a part of student exchange programs and few choose for regular courses. It is expected that if the IIM's will be granted the permission to grant degrees then it is likely to attract more and more foreign students every year.
In order to make this possible, measures have been taken to accommodate international students include an up-gradation of residential facilities. The IIM's also plan to upgrade faculty and academics too.
However, these changes are to be financed via UGC Grant Commission or the Interest free loans. Also, HRD Ministry is also likely to set up Rs. 300 crore fund for the recruitment of internationally renowned faculty to the new IIM's. Further, fund raising workshops for the IIM's have been proposed. International speakers who have extensive experience in improving fund raising for various organizations will speak at these workshops.
In order to improve the visibility of IIM's globally a management journal, the IIM business review would be brought out by IIM-Bangaloer. In addition to this, IIM Calcutta will organize a world management conference from May 31-June1, 2013.
At the conference, they are to discuss about the accreditation for management institutions. Well, it seems like IIM's are going to be strong enough to place healthy base for the Indian Higher Education.