The Indian Institute of Management Ahmedabad (IIMA) has hiked the fee for its flagship 2-year programs, Post Graduate Programme (PGP) in Management by 7.7% and PGP Food & Agribusiness Management (PGP-FABM) from Rs. 19.5 lakh to Rs. 21 lakh.
This is the second consecutive year the IIM went in for a fee hike for the PGP program. In 2016, it had increased the fees from Rs 18.5 lakh to Rs 19.5 lakh.
IIMA Director Ashish Nanda said the fee for PGP programs was hiked to Rs. 21 lakh for two years with Rs. 10.5 lakh to be paid each year.
Meanwhile, Shikha Sharma, CEO and MD of Axis Bank Ltd., who was the Chief Guest at the convocation, in her address, said it was an opportune moment for India to regain its fair share of global economic production.
“There will be no seat increase for the course, while we have gone for two sections for our PGPX program,” he told reporters on the sidelines of the 52nd annual convocation of the institute on March 24.
IIM Ahmedabad would continue to provide financial aid to the deserving students who form about one third of the class, he added.
Meanwhile, 554 students were conferred diplomas at the Convocation. They included 401 students from Post Graduate Diploma (2015-17 batch), 45 from PGP Food and Agribusiness Management Programme (PGP-FABM), 90 from one-year PGPX (batch 2016-17) and 18 students from Fellow Programme in Management (FPM). Three students from the 2015-17 batch of PGP were awarded Gold medals.
Meanwhile, Shikha Sharma, CEO and MD of Axis Bank Ltd., who was the Chief Guest at the convocation, in her address, said it was an opportune moment for India to regain its fair share of global economic production.
“This is India’s time in the sun. It is our time as a nation to regain our fair share of global economic production, of trade, or arts, culture, innovation,” she said.
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Sharma, an alum of IIMA, said she was visiting the institute after a gap of 37 years. “We live in a world where the rate of change is constantly increasing, the effectiveness of our response strategies is increasingly uncertain and the number of variables at play are every higher. There are few situations where there is a clear right answer.”
She also said the graduates should remember that everything they do today, would be, for better or for worse, in the public gaze. And the public’s interpretation of it, their retelling of it, even their memory of it, is very likely to be imperfect, even unfair.”
Kumar Mangalam Birla, the chairman of Board of Governors at IIMA, said, “You are stepping into a world where change is more ferocious than it has ever been. And so, let me not sugar-coat things for you. The real world is a tough place where, often times, the light at the end of the tunnel is turned off due to budget cuts. There is intense competition out there. There is failure out there and you will encounter challenges and hurdles that you never even imagined in your wildest dreams.”
