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Premiere management institutes in India, IIMs, which currently provide only diplomas and certificates, will start providing degrees, according to Rishikesha T Krishnan, Director at IIM Indore. The proposed bill is expected to pass in the parliament after the polls and as the new government takes office thereafter.
There are 13 IIMs throughout the country and all of them will be able to award degrees to post graduates and 5 year IPM (Integrated Programme in Management) courses after the said bill is passed. Currently IIMs do not fall under the category of universities and hence they are only authorised to award diplomas and certificates. The decision to award the degrees will also be applicable to students studying at Dubai centre.
This development is extremely important for the management students looking to study at IIM, since currently PGDM is not recognized at many places abroad and students face problems while pursuing PhD. A degree would ensure better job prospects for IIM students. It will enable them to apply for government jobs and pursue higher education at any place of their choice.