IMC 2023 Highlights | AICTE Chairman releases Whitepaper on Standalone B-schools; Future of Business, and MBA Education, is Digital & AI, note Global Thinkers, CXOs

13th Edition of INDIAN MANAGEMENT CONCLAVE (IMC) 2023, organized by MBAUniverse.com and hosted by SPJIMR Mumbai on Oct 13-14, was a grand success with Policy Makers, Global Thought-leaders, CXOs and 250+ Directors, Deans and Academic Leaders from India and Abroad present. MBAUniverse.com presents key highlights from the landmark conference.

AICTE Chairman Releases Whitepaper on Standalone B-schools
The highlight of Conclave was the release of IMC Whitepaper by AICTE Chairman Dr Sitharam T.G, along with Oxford University Dean Dr Soumitra Dutta, and IIM Ahmedabad Director Dr Bharat Bhasker.

Authored by Amit Agnihotri, Founder, IMC & MBAUniverse.com, the Whitepaper outlines three Pathways for Standalone B-schools to meet the Legal, Structural and Academic requirements to meet the conditions set by NEP 2020. Whitepaper makes Six Recommendations to Regulators.

Releasing the Whitepaper at the Valedictory Session, Dr Sitharam said, “We recognize the important role of Standalone B-schools, particularly PGDM B-schools. AICTE welcomes the suggestions made by your Whitepaper. We will review the recommendations and utilise them for future MBA and PGDM program policy planning.”

AICTE to bring BBA/ UG Management Programs under its Purview: Chairman
Dr T G Sitharam also made several policy announcements at IMC 2023. He informed the audience that AICTE is bringing UG Management programs, like BBA, into its purview.

While releasing the Whitepaper, AICTE Chairman Dr Sitharam said, “As highlighted in the Whitepaper, size of Undergraduate Management Education in India is as big as Post Graduate MBA/PGDM programs. Since approval for all PG management programs is already being given by AICTE for many decades now, we will bring the approval of UG Management programs, like BBA, into the purview of AICTE. This will facilitate better integration between UG and PG management programs in India and give impetus to management education in India.”

As highlighted in Whitepaper, while 6.37 lakh students are enrolled in BBA and similar UG Management programs in India, about 6.05 lakh students are enrolled in PG programs like MBA.

One the key recommendations of Whitepaper is to allow 500+ PGDM and Standalone B-schools to offer AICTE approved Undergraduate Diploma programs. This will facilitate B-schools to increase student size, a key requirement of NEP. Currently PGDM B-schools like XLRI Jamshedpur and MDI Gurgaon can offer only Post Graduate and Executive management programs, not undergraduate programs. IIMs are permitted by the IIM Act 2017 to offer both UG and PG programs, and five IIMs including IIM Indore are already offering both UG and PG programs.

IMC Whitepaper | New Education Policy 2020: Pathways For Standalone B-Schools
Based on policy research, and roundtable deliberations with 50+ higher education leaders from IIMs, XLRI, SPJIMR, MDI and other leading B-schools over the last six months, IMC Whitepaper lays down many recommendations on how standalone B-schools can either become Universities, Autonomous Colleges or become part of HEI Cluster, as envisaged in the NEP 2020.

Key Recommendations of IMC Whitepaper are:

Recommendation #1: Recognize Management Institutions in the ‘Distinct Institution’ category
The UGC Notification 2023 remarks that an existing institution or an institution starting from the beginning with the focus on teaching and research in unique disciplines and/or addressing the strategic needs of the country or engaged in the preservation of Indian cultural heritage or preservation of the environment or dedicated to Skill Development or dedicated to Sports or languages or any other discipline(s), so determined by the Expert Committee of Commission, will be considered under ‘Distinct Institution’ category. Such Institutions will be exempted from eligibility criteria to become Universities.

Whitepaper recommends that Standalone B-schools meet these criteria, and qualify to be categorized as ‘Distinct Institution’. Hence, they should receive the relaxations as per the UGC notification to become a multi-disciplinary University. This is the recommendation for the first Pathway available in NEP 2020 for Standalone Institutions to become a Multi-disciplinary University.

Recommendation #2: Establish the “Indian Management & Skill University”
Whitepaper recommends that AICTE may establish/sponsor/facilitate “Indian Management & Skill University (IMSU)” with all PGDM Institutions as constituent degree-granting institutions.

Elaborating on this recommendation, Mr Agnihotri said: “IMSU should be established on the lines of IIM Act 2018 by AICTE, with support from relevant departments of Ministry of Education. All PGDM B-schools can come under the purview of ISMU, and after meeting the quality requirements, majority can be classified as Degree-granting Autonomous College (ACs), as outlined in NEP 2020.”

This is the recommendation to facilitate the second pathway available in NEP 2020 for Standalone B-schools – becoming an Autonomous Degree Granting Institution.

Recommendation #3: Allow PGDM institution to offer UG Diploma in Management program
Another important recommendation of the Whitepaper is that AICTE should allow PGDM institution to offer UG Diploma programmes.

Currently, AICTE approved standalone PGDM institutes are not allowed to offer undergraduate diploma programmes in any management or other stream, although they are offering AICTE approved Post Graduate Diploma in Management. As such these standalone B-schools, should be allowed to introduce undergraduate programs without immediate commitment to full-fledged degree-granting status. This gradual shift will help institutions adapt to new regulations and academic requirements smoothly and take them close to NEP requirements.

Making an important announcement while releasing the Whitepaper, Prof (Dr) TG Sitharam, Chairman AICTE said, “Size of Undergraduate Management Education in India is as big as Post Graduate MBA/PGDM programs. Since approval for all PG management programs is already being given by AICTE for many decades now, we will bring the approval of UG Management programs, like BBA, into the purview of AICTE. This will facilitate better integration between UG and PG management programs in India and give impetus to management education in India.”

Recommendation #4: Allow PGDM institution to collaborate with other AICTE, UCG approved institutions offering programs in other disciplines
Whitepaper suggests that AICTE and UGC should allow the PGDM B-schools to collaborate with other AICTE approved or UGC recognised institutions which are offering degree programs in other disciplines. This will help them to offer joint diplomas/degrees in partnership with other institutions offering Engineering, Social Sciences, Pharmacy and other programs. IIT Jammu and IIM Jammu have recently collaborated to offer dual degree.

Whitepaper also makes an important recommendation related to treatment of Multi-Campuses, Executive Education, Digital Delivery of management programs while accounting for required number of students (3000+) to meet NEP 2020 requirements.

Summarizing the recommendations, author Amit Agnihotri said “The Indian Management Education will stand transformed post NEP 2020 implementation. B-schools must prepare themselves for NEP implementation and this white paper outlines three considered pathways in that direction.”

Top CXOs, 250+ B-school Directors & Deans attend
250+ B-school Directors & Deans attended the 13th Indian Management Conclave at SPJIMR, Mumbai. The event brought together Policy Makers, Thought leaders & Business Leaders. Top CXO’s (Google, HDFC, Deloitte, EY, ICICI, HCL among others) made Industry Sector Case Study Presentations followed by Panel Discussion on Management Education by top Academic Leaders from IIM Ahmedabad, XLRI, SPJIMR, IMT Ghaziabad, IIM Nagpur, BIMTECH, GIM Goa, JAGSoM, BIM Trichy, Jaipuria Institute of Management among others.

IMC is India’s biggest annual MBA Education Conference & Awards Platform. Organized by MBAUniverse.com in partnership with India’s top B-schools and knowledge Organizations, INDIAN MANAGEMENT CONCLAVE (IMC) is India's definitive annual Management Education Conference & Awards Platform. IMC is hosted by India’s leading Institutions who contribute as Knowledge Partners. Past Partners & Hosts include: ISB Hyderabad (2015), IIM Ahmedabad (2016), IIM Lucknow (2017), IIM Bangalore (2018), MDI Gurgaon (2021) and IIM Kozhikode (2022). Hon’ble Former President of India Shri Ram Nath Kovind was the Chief Guest for 12th IMC 2022. SPJIMR was the host for IMC 2023.

Stay tuned to MBAUnivese.com for more details.