Odisha CM lays foundation stone for Rs 300 crore Narsee Monjee Management Institute

Patnaik asserted that this is purely a contribution of Indian management institutes.

Odisha Chief Minister Naveen Patnaik on Thursday laid the foundation for Narsee Monjee Institute of Management Studies (NMIMS), a private university, in Bhubaneswar.

The institute is being set up by Shri Vile Parle Kelavani Mandal Trust at an investment of Rs 300 corer. The Odisha government has provided 40 acres of land free of cost for the NMIMS, a leading management institute in the country. The Institute will reserve 30 per cent of seats for students of Odisha on merit as an MoU signed between the Odisha government and the Trust.

Claiming that Odisha in recent times has made significant strides in various socio-economic parameters and is now one of the fastest growing economies of the country, Patnaik said the rising economic status of the state has created immense opportunities in attracting talents from India and across the globe. He said India is now a leading economy of the world– the fifth largest among the nations, and set to become third in a few years. This massive economic growth of India is driven by its youth power, the chief minister said.

The youths of India are now considered the hope for the global economy and this is evident from the number of global CEOs and management thinkers the country has produced, he added. Patnaik asserted that this is purely a contribution of Indian management institutes. The quality of their education, including the Indian value system, has placed management professionals of this country in great demand across the globe, Patnaik said. The chief minister said that in the last few decades, management, as a profession of choice, has increased manifold, and this demand has been supplemented by private business schools in addition to the efforts of IIMs, and other premier government-run business institutes.

Noting that Odisha, the landscape of higher education has undergone significant advancements since the year 2000, Patnaik said the state witnessed a surge in university establishments, expansions in course offerings, and infrastructure improvements across all streams of education. The state has steered its higher education ecosystem towards a new era of progress, Patnaik said.

Official sources said that the state government has allocated 40 acres of land on lease at Goudakashipur for the establishment of this institute free of cost and free registration for an initial period of 30 years, extendable for another 30 years and free from annual maintenance charges of IDCO (Industrial Development Corporation of Odisha).