The year 2023 marked a historic milestone for National Institute of Industrial Engineering (NITIE), Mumbai. In that year, the prestigious business school for engineers located in a sprawling 63-acre campus in Mumbai, Powai became India’s 21st IIM and the City acquired the reputation of having both an IIT and an IIM. The key architect of the feat was Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. A visionary figure from the logistics industry, he is credited to have built the Indian-born logistics conglomerate. Since 2023, under the leadership of Shetty, IIM Mumbai, formerly NITIE, has been at the forefront of grooming powerful leaders of tomorrow.
Leadership that drives excellence
Shetty’s association with IIM Mumbai began in 2020 when he was appointed as the Chairman of the Society and Board of Governors (BoG) of the institution by the Ministry of Education, Government of India. With an inspiring entrepreneurial journey and a wealth of experience of leading operations across diverse logistics verticals in over 180 countries, he was the perfect choice to lead the premier institute into the next phase of growth and excellence.
Under the chairmanship of Shetty, the process of BoG appointments was initiated with a committee headed by him. This committee, with the visitor nominee from Kamal Bali the President and Managing Director of Volvo Group India, and the senior professor from IIT Delhi, Deshmukh, nominated the following members to the Board of Governors (BoG) under. Shetty’s visionary leadership to drive the institute’s ambitious vision:
1. Manoj Tiwari – Director, IIM Mumbai has been reappointed by the committee consisting of Mr. Shetty, Chairman of the Selection Committee, alongside Mr. Satish Reddy, former head of DRDO, Ministry of Defence, Mr. Mihir Doshi, CEO of UBS Bank, and Deshmukh from IIT Delhi.
2. Ajoy Mehta – Former Cabinet Secretary & former Municipal Commissioner of BMC.
3.Upasna Khemeni – Heir to the Apollo Healthcare Group, philanthropist, dynamic social justice influencer, and animal lover.
4. Mihir Doshi – CEO of UBS Bank, a highly respected CEO in India for a multinational bank.
5. Hetal Gandhi – Former promoter of TANO Capital, a well-known private equity company.
With these appointments, IIM Mumbai is transforming itself into a hub of academic excellence and industry engagement under Shetty’s leadership.
A Visionary leadership and a progressive transformation
Education being a cause close to his heart and a firm believer of industry-academia partnership, he set out on a mission to transform the institute, set up in 1963, into a progressive and future-ready business school of global excellence. Under his dynamic leadership and the hard-work of board members and management, IIM Mumbai made rapid progress in achieving academic and research excellence, building strong industry collaborations and imparting learning that drive value creation across industries. And the results were there for everyone to see. The IIM Mumbai made a remarkable rise to 6th position in the National Institutional Ranking Framework (NIRF) 2024 from 29th in 2020.
IIM Mumbai leverages its location in the financial capital to foster global and national industry collaborations. Under Shetty, it has partnered with leading companies, government bodies, and universities. Offering programs in maritime management, logistics, supply chain, and sustainability, IIM Mumbai excels in digitalization, technology, and industry engagement.
Future-ready infrastructure
Going forward, IIM Mumbai has unveiled a massive ₹800 crore infrastructure development plan, set to be implemented in three phases over the next five years. The plan aims to elevate the institute’s academic and residential facilities by rolling out state-of-the-art amenities including an incubation centre, research laboratories, and an amphitheater. As part of its expansion strategy, the institute also plans to broaden its academic offerings by introducing undergraduate programs and executive education tailored for industry professionals.
To guide this transformation, the board has engaged KPMG to provide strategic recommendations for infrastructure enhancement. Additionally, a team of senior architects has been invited to redesign the campus and position it among the world’s best.
The IIM Mumbai campus located on the banks of Vihar Lake will also increase its student capacity to 4,000 from 1,200, offering much improved facilities to live and study.
Towards global excellence
With a focus on industry collaboration, academic excellenceand infrastructure development, the iconic institute is poised to excel. As Shetty aptly puts it, “Our vision is to turn IIM Mumbai into one of the best B-schools in the world, on par with Harvard and Stanford, supported by cutting-edge, future-ready infrastructure.”
Under the leadership of Shetty and with the strategic guidance of the esteemed Board of Governors, IIM Mumbai is well on its way to achieving its ambitious goals, transforming itself into one of the most respected business schools globally. The campus is gearing up to develop close engagement with the Indian industry, and triple the capacity of students, faculty, and research professionals to meet the said objectives.
