Indian business schools are going global with IIM-Ahmedabad, IIM-Bangalore and IIM-Calcutta readying themselves to impart lessons in management to overseas aspirants.
IIM-A will notch up another "first" when it commences classes for a batch of 30 senior managers at Cairo in Egypt on May 6. It is also set to introduce management programmes in Singapore next year.
IIM-B and IIM-C are also planning to start executive management programmes for senior managers in Dubai. IIM-A, too, is set to finalise its plans for Dubai at its board meeting in June. The other IIMs, particularly IIM-Lucknow, may also follow suit.The move to go global is likely to get the B-schools more money. IIMA expects around one-fifth of its revenues to come through the foreign route from now on. It also expects revenues to rise significantly from financial year 2006-07.
IIM-A had reported a revenue generation of around Rs 18 crore (Rs 180 million) from core activities last year. The other strategy is to use revenues from abroad to avoid financial dependency on the government. The IIMs expect to earn around 20-25 per cent of their total revenues from overseas programmes in the next two years.
"The objective is not just to make money from the programmes we are going to undertake in these countries. At IIM-A, we have drafted a master plan to become a global business school and going to Cairo, Singapore and Dubai are a part of the strategy. While on May 7, our first class outside India will kick off at Sharm-Al-Shaikh, around 400 kilometres away from Cairo, we expect classes to begin in Singapore from early 2006," Bakul Dholakia, director of IIM-A told Business Standard on Sunday.
"For the past few months, we have been working on a plan to take quality management education to Dubai, which is one of the potential markets for management education and also one of the fastest emerging markets in the world. We expect to start classes for senior managers in Dubai by the end of this year," said Dholakia. IIM-A is now talking to a few organisations in Dubai for a strategic tie-up to introduce its classes there.
When asked about the projected revenue generation from its overseas operations, Dholakia said, "During this year, we expect to earn between Rs 3-4 crore (Rs 30-40 million) and with the addition of Singapore from next year, we expect to earn around Rs 5-6 crore (Rs 50-6- million) in 2006-07."
For Cairo, IIM-A has tied up with Egypt's Future Generation Foundation, which has a network in African countries. For Singapore, IIM-A has a strategic tie-up with National Kidney Foundation.
IIM-B, which is ranked second among the six top business schools in the country, is also planning to introduce a management programme in Dubai.
IIM-B director Prakash Apte said, "We are considering to start classes in Dubai because of the increasing demand for good managers in the region and the move will also enhance our brand equity globally. In fact, as we are planning to start a one-year post-graduate programme for executives from the next academic year, we are also targeting to woo students from other countries, thus selling IIM-B as a global brand."
IIM-B, according to sources, may launch its courses in Dubai during the next financial year while a source close to IIM-C said the institute was working on a similar idea.