IIM Mumbai to charge lesser fee than IIMs Ahmedabad, Calcutta, Bangalore

The Indian Institute of Management (IIM) Mumbai will charge a lesser— ₹21 lakh— fee than IIMs Ahmedabad ( ₹31.5 lakh), Calcutta ( ₹31 lakh), and Bangalore ( ₹24.5 lakh) for its inaugural two-year master of business administration (MBA) programmes from the 2024-2025 academic year.

The fee structure was discussed on Wednesday at the institute’s first board meeting since the National Institute of Industrial Engineering (NITIE) was designated as IIM Mumbai after the passage of the Indian Institutes of Management (Amendment) Act this year.

NITIE offered post-graduate diploma courses in industrial engineering, industrial management, and sustainability management before it became IIM Mumbai. Only engineering graduates were eligible for admission to these courses and the tuition fee was ₹7.5 lakh.

The fee structure will be uniform for the three courses that will be offered at IIM Mumbai—MBA (general), MBA (sustainability and management), and MBA (operations and supply chain management). Admission to the courses will be finalised through the Common Admission Test like in the cases of other IIMs.

The first two courses will be open to students from all academic backgrounds. Candidates require an engineering degree to pursue an MBA (operations and supply chain management). Students with statistics and mathematics backgrounds will also be considered for this course following changes in eligibility criteria.

IIM Mumbai Board of Governors chairman Shashi Kiran Shetty and the institute’s director Manoj Kumar Tiwari were among those who attended the inaugural meeting of the institute’s board.