Union HRD Minister Smriti Irani has laid the foundation stone for Indian Institute of Management (IIM)-Visakhapatnam at Gambheeram village of Visakhapatnam district of Andhra Pradesh.
Key facts
- It is the first institution among the 11 Central premier institutions to be established in the state as per the provisions of the Andhra Pradesh Reorganisation Act, 2014.
- IIM- Visakhapatnam will start its functioning from 2015-16 from the campus of Andhra University till the construction of campus is completed.
- It should be noted that IIM- Visakhapatnam will be fourteenth IIM of the country.
Union Government is also planning to introduce a bill on Indian Institutes of Management (IIMs) in Parliament, in order to empower these public, autonomous institutes to award MBA degrees instead of postgraduate diploma certificates.