Citizenship and Immigration Minister Visits IIM Bangalore

Source: IIM Bangalore | January 14, 2015

Emphasizing Canada’s focus on fiscal rectitude and innovation, the zeal with which it advocates open markets and its concerted efforts to overcome skills mismatch, Canadian Citizenship and Immigration Minister Chris Alexander wooed talented Indians, be they entrepreneurs or MBA graduates, in his hour-long talk at IIM Bangalore today.

“We want to pursue the value of immigration. We have carefully and deliberately reformed our immigration system,” he said, listing Canada’s Express Entry visa and the Start-Up visas for entrepreneurs as steps in that direction.

Inviting start-ups to be incubated in Canada, he said many Indian entrepreneurs had set up businesses last year and there were many projects in the pipeline from Bangalore this year. “You talk of Silicon Valley in our neighbor country, we we have Quantum Valley in our country where cutting-edge research happens.”

He spoke of his country’s focus on strategic investments, complemented by a relatively low tax business environment and openness to new markets had led them to go from just 5-6 free trade agreements a decade ago to free trade agreements with 49 countries now. “We want to move at the speed of business, not at the speed of bureaucracy,” he said, observing that India was the centerpiece of such partnerships. “Whether it is pharmaceuticals or medical research, life sciences or fields such as Ayurveda and yoga, India excites us,” declared the minister who arrived in the city after leading the Canadian delegation at the Vibrant Gujarat summit.

Delighted at the number of exchange partnerships that a management school such as IIM Bangalore has with top B-schools in Canada, he said: “We cannot grow without leadership, exchange and innovation.”

Describing immigration as the key factor for Canada’s growth, he said his country was keen to benefit from the talent and unique skills of people from anywhere in the world. He drew attention to the quality of life in Canada’s top cities and said: “A youngster looking to work in animation or video games or keen on a technology start-up will feel most at home in any of our cities. When I say we are welcoming, I don’t mean those huge welcome signs at the airport but the ways in which people treat you on the metro.”

Charting the course of Canada’s business environment from the 1960’s to now, he said the turning point had arrived when entrepreneurship and innovation were brought into government. “We repaid debt, we launched an ambitious plan for reducing taxes, we targeted tax relief for families, especially the middle class, and we put our on focus on fiscal discipline. That’s why though we were tested by the 2008 crisis, unlike our neighbor, our banks neither failed nor bailed out, unemployment did not spike and the real estate market did not tank.”

Stating that there was a lot of scope to “right size” Canada’s relationship with India through all the new immigration initiatives, he said: “We are in territory a little bigger than you – all right, so we are a lot colder than you – but we are just 35 million to your 1.2 billion. We want to benefit from your talent and your uniqueness,” he said.

Earlier in the afternoon, N Ravi, Career diplomat and Senior Fellow, IIM Bangalore, introduced the minister to the gathering.

The minister’s talk was followed by a Q&A session, where students and entrepreneurs in areas as diverse as transport and sports management sought information on Canada’s integration initiatives for immigrants.

A Global Stamp

Source: Times of India | April 28, 2014


In keeping with the trend of ‘going gobal’ as witnessed among many institutes in the country, the Indian Institutes of Management (IIMs), too, have geared up to make their presence felt worldwide.

With the granting of the Association of MBAs (AMBA) accreditation for five years in March 2014, IIM Calcutta, too, has sealed its position among the top B-schools globally. On the anvil is yet another accreditation for it. “We hope to get the Association to Advance Collegiate School of Business (AACSB) accreditation by the end of the year,” says Anindya Sen, dean (academic ), IIM-C .

On the benefits of such global accreditation, Sen says, “It is an international benchmarking procedure. Accreditation is the concrete evidence that we are ranked highly not only by Indian standards but that we also belong to a very select group of institutions worldwide.” He adds, “Moreover, international branding and recognition is important. Internally , the process of accreditation has enabled us to put in place valueadding systems and processes and forced us to reflect more deeply about what we are and where we want to go.”

With a few other IIMs already AMBA accredited, IIM-C took time to apply and only did after it was convinced about the need for accreditation. “It was also after an office was in place to handle the complexities of the accreditation process,” says Sen.

Following the accreditation, the one-year postgraduate programme for executives has undergone extensive curriculum revisions. “These will take effect next year. The postgraduate programme curriculum review will begin soon,” he adds.

TCS Insights: International recognition and accreditation has established IIMs among the leading business schools in the work. As programs are reviewed and improved, the reputation of Indian educational institutions will only be heightened around the world.

Degrees at IIMs Likely to Become a Reality

Source: Times of India | March 14, 2014

INDORE: If all goes well, much-awaited degrees at Indian Institutes of Management (IIMs) would turn into a reality soon. Officials at the premier management institutes of India are eagerly waiting for the polls to get over as the decision on the proposed Bill in the Parliament is likely to be taken after the new government is formed. 
If passed, the Bill would ensure that the post graduates and five-year (Integrated Programme in Management) IPM pass-outs from the prestigious institute get a degree and not just diploma or certificate. At present, IIMs do not provide degrees as they do not fall under the category of university. IIM- Indore is the only one among 13 IIMs to offer 5-year IPM. 
IIM-Indore director Rishikesha T Krishnan told TOI, “At government level, there is a proposal to enact an IIM Act, which will be applicable to all 13 IIMs in the country. Once it is passed, IIMs will be able to provide degrees of their own. We will also be able to provide degrees to our students at Dubai centre then.” 
“However, the whole process may take some time. We will have to wait for the new government to take office and if and when they pass the legislation, we will be able to give degrees for all our programmes in India as well as in Dubai.” 
Students are upbeat over the developments. “PGDM is not recognized at many places abroad and students face problems while pursuing PhD. A degree would ensure better job prospects for IIM students. It will enable them to apply for government jobs and pursue higher education at any place of their choice,” said Ankur Jain, a second-year PGP student at IIM-Indore. 
IIM-I passout Deepti Jaiswal said, “Quality of education and placement at IIMs matter more than degrees. However, a degree would definitely help students willing to pursue higher studies abroad”.

TCS Insights: Depending on a Bill currently seeking approval in Parliament, students earning their educations at any of the 13 IIMs in India will have the opportunity to achieve degrees, rather than just diplomas and certificates. This should benefit those seeking to use their educational credentials for a job or higher levels of education.

Global Job Offers Double for IIM Bangalore Graduates

Source: Times of India | February 18, 2014

BANGALORE: It’s a windfall for the class of 2012-14 at the Indian Institute of Management-Bangalore. Bucking negative trends, 388 students received 425 job offers from 150 companies during the final placement season. And compared to last year, international placements offered to the students doubled, from 20 to 41. This year, the B-school saw its biggest ever postgraduate programme in management (PGP) batch.

The pre-placement offers poured aplenty with 117 students receiving offers prior to the start of the final placements, which is 20% higher than last year.

The lateral placement season for candidates with more than 22 months of work experience broke all records with 127 offers made by firms in varied domains like strategy , leadership, product management , consulting and general management . Nine candidates chose to join social ventures.

The highest number of offers, about 27%, came from the consulting sector. Accenture Management Consulting, with 13 offers, was the top recruiter in this segment this year; McKinsey and Co. and the Boston Consulting Group had 11 each.

Average hike: The average salary offered this year is Rs 19.5 lakh per annum, 13.3% more than the Rs 17.2 lakh offered in 2013

Top sectors: Consulting 27% Banking & finance 19% IT & technology 17% General management 14%

Key recruiters: Amazon, Samsung, IBM, Coca-Cola , PepsiCo, Reliance Industries Ltd and Flipkart

Foreign companies flock to IIMB: Germany-based incubator Rocket Internet hired exclusively from IIMB for the first time, offering an international role for one candidate. Another firsttime recruiter was LinkedIn.

Sankarshan Basu, chairperson of Career Development Services, IIMB, said usually final placements take place during March. This year it was advanced by three weeks. Two students opted out of the placement process, with one wanting to pursue research and the other seeking to explore opportunities with his previous employer.

There is a rise in salary package over last year. This year the average salary is Rs 19.5 lakh per annum and the median salary, Rs 17.3 lakh. Last year, they were Rs 17.2 lakh and Rs 15.5 lakh, respectively. Ankit Rustogi, students’ placement representative , said the highest salary packages were offered by general management and financial services sector.

TCS Insights: Students of IIMB found success after graduation with many graduates quickly earning job offers, including international placements. Industries that have seeked IIMB graduates include Management, IT, Consulting, Banking and Finance. With the average annual salary offered having increased from last year, graduates look to gain as much from foreign companies as these firms hope to gain from their new employees.