Indian Institute of Management Calcutta (IIMC) is thinking big while thinking ahead.
Being more competitive, setting up a new campus for executive education, creating infrastructure to accommodate more students, stepping up the scale of exchange initiatives with B-schools across the globe and increasing faculty strength top the priority list for the future.
This has been spelt out in a paper recently prepared by a committee, consisting of faculty members of the premier B-school, proposing a host of initiatives for the period 2004-05 to 2006-07 with the objective of internationalisation.
'During the fee controversy, the IIMs in Ahmedabad, Bangalore and Calcutta made it clear that they did not want to depend on government grants. But it is imperative for the IIMs to maintain their standards and plan ahead,' said an IIMC faculty member.
In the aftermath of the Murli Manohar Joshi-led fee-slash controversy at the country's top B-schools, the United Progressive Alliance government decided to stop plan and non-plan grant to three IIMs and asked them to work out revenue models.
The IIMC blueprint ' to be discussed by the faculty council and then the board, before handing it over to human resource development minister Arjun Singh ' proposes an investment of around Rs 74 crore over the next few years.
Target 2006-07: attract 60 per cent of the students receiving offers from both IIMC and IIM Bangalore, 20 per cent from those chosen by IIMC and IIM Ahmedabad, and increasing the number of students visiting foreign institutions under the exchange programme to 25 per cent of the batch size.
'If implemented in a time-barred manner, these measures can put IIMC in the big league of the best B-schools in the world,' said a faculty member.
Setting up a full-fledged campus for executive education is also proposed, aiming for a 20 per cent annual increase in gross earnings from such programmes. The investment under this category will be around Rs 51 crore, but the paper pegs the payback period at no more than five years.
The paper also maintains that the required investment should be funded from internal resources, contribution from industry and alumni, and use of the corpus (around Rs 90 crore), including interest.
Taking the faculty strength from existing 65 to 100 and opening the institute's doors to more students ' in full-time courses (400), evening programmes (60) and fellow programmes (25) by 2006-07 ' and fine-tuning curriculum are the other measures the paper suggests.