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The 15th Indian Institute of Management started in Amritsar, will now be operating from its own campus. The foundation stone of the campus was laid by Finance minister, Arun Jaitley. This will be a new beginning for the institution as earlier it was organizing education programmes from a temporary facility.
While laying the foundation stone, Jaitley gave the examples of Japan and South Korea and said that for India to become a developed nation, it is necessary that education and agriculture go hand in hand in order to boost the economy.
He also mentioned the importance of taking Punjab education to heights. Showing the path forward he also said that for education to flourish in Punjab, government and private companies will have to tie up.
Since 55% of the people are dependent on agriculture for their income, unemployment has been rising in the farming sector. This is the reason that people are forced to look at other options hence making education even more important, said Jaitley.
The Finance Minister hoped that with the establishment of IIM in the state, more educational institutes will want to set up campuses in Punjab.
The first batch of IIM-Amritsar was started in 2015 from a temporary facility. The new campus will be built on a 60-acre land located in Manawala on the National Highway-1.
Among the other ministers who attended the event were Union Human Resource Development Minister Smriti Irani, Punjab Chief Minister Parkash Singh Badal and Deputy Chief Minister Sukhbir Singh Badal.
“In the coming years, IIM-Amritsar will become a premier educational institution,” Jaitley said.
Six IIMs were announced in Budget, July 2014 by Finance Minister Arun Jaitley. Apart from Punjab the states that were promised the premier institutions were Bihar, Himachal Pradesh, Maharashtra, Odisha and Andhra Pradesh.
IIM Amritsar is reportedly the smallest among all the other IIMs in the country. All other IIMs have near to 90 acres or more land for their campuses.
The first IIM was set up in Calcutta in November 1961. IIM Ahmedabad, Bangalore and Lucknow were founded soon after followed by Kozhikode, Indore, Shillong, Rohtak, Ranchi, Raipur, Trichy, Kashipur, Udaipur and Visakhapatnam.
Two more IIMs were announced in the Union budget presented on Feb 28, 2015 which will be founded in Jammu and Kashmir and Telangana.