Among the proposed new IIMs to come up in India by the Finance Minister Arun Jaitley in the last year’s budget, IIM Visakhapatnam foundation stone got laid by the Human Resource Development Minister Smriti Irani in Andhra Pradesh. Admissions to IIM Visakhapatnam would be open from the academic session 2015-16. Till the campus for IIM Visakhapatnam gets ready, IIM Bangalore would remain its mentor institution.
Along with Smriti Irani, who laid the foundation stone for the institution, there were minister from various profiles present at the ceremony. Urban Development Minister M. Venkaiah Naidu, Civil Aviation Minister Ashok Gajapati Raju, Andhra Pradesh Chief Minister N. Chandrababu Naidu were also present in the Gambeeram village, where the ceremony took place.
The campus for IIM Vishakhapatnam would come up on the sprawling 400 acres land and is the first among the 11 sanctioned institutes by the Central Government for Andhra Pradesh under the Andhra Pradesh Reorganization Act, post the division of Andhra Pradesh and Telangana.
Naidu asserted the people gathered for the ceremony that he would help provide setting up of industries in the state. He said, “With inherent knowledge, skills and strength, Andhra Pradesh had the potential to become the knowledge hub of India.”