Here's how the IIM Bill can make India's premier institutes prominent on the global stage

The new IIM Bill is likely to bring in greater uniformity in the way these institutes are managed. As of now, while the older IITs can constitute their boards, the newer ones have government control. Currently, the chairperson and the director are appointed by the ministry.

It will also put the IIMs at par with the global institutes by strengthening the IIM brand. As of now, the IIMs’ international appeal is largely limited to students of Indian origin. With this Bill, IIMs will get the legitimacy they deserve in a global setting.

Here's how the Bill if sanctioned, will benefit IIMs:

- Each IIM board of governors will have the power to appoint its chairperson and director. The director’s posts at around 13 IIMs are currently lying vacant, for as long as two years.

- More power with the boards would also result in decisions being taken more swiftly.

- Existing IIMs will be able to award degrees instead of diplomas.

- It will help students applying to foreign universities that did not recognise the diplomas awarded by the IIMs

- This bill will also help in attracting foreign students and make it easier for the institutes to expand overseas.