Mumbai-based ITM Group of Institutions is setting up Asia Graduate School of Business (AsiaGSB) in Hyderabad to offer fast-track MBA programmes designed specifically for the Asian sub-continent.
Being developed on a 14-acre site at Ghatkesar on the outskirts of Hyderabad, AsiaGSB will entail an investment of Rs 25 crore (Rs 250 million) in the first phase and Rs 50 crore (Rs 500 million) over the next two to three years. The B-school is expected to start operations from mid-2008.
"AsiaGSB is being established with a mission to evolve postgraduate business education with specific attention to the economies and industries of the Asian sub-continent. With the economies of India and China anchored on a solid footing, we expect the demand for MBAs to touch a new high in the region in a couple of years. Hence, we have designed a curriculum that focuses on next generation concepts and practices prevalent in the Asia region, with a major focus on India and China," P V Ramana, chairman of ITM Business School, told Business Standard.
A one-year programme on general management will commence by July 2008 and the institute expects around 60 students from across the continent for this programme.
Later, it would start a two-year programme, which would be launched simultaneously in India and China. In this programme, Indian students would complete their second year in China and vice-versa.
The institute plans to draw teaching resources from faculty at Asia's top institutions like the National University of Singapore, AIM Manila, Tianjin Polytechnic University and Fudan University, China, ITM Business School and the Indian Institute of Management (Ahmedabad), India.
Besides, faculty from state and private varsities in the US, UK and Europe would be roped in to bring a Western perspective to the programme.
"A minimum of three years of work experience is the eligibility criteria for students to get admitted to our programmes, and the fee structure has been fixed below Rs 10 lakh (Rs 1 million), including tuition and accommodation," Ramana said.
ITM Group of Institutions conducts graduate and postgraduate education programmes in seven cities across the country. It has 13 campuses and schools under its umbrella.