India is going to have a new IIM in Mumbai, making the total count of IIMs twenty-one. The Union Cabinet approved three bills on July 12, 2023, including the amendment to include the National Institute of Industrial Engineering (NITIE) Mumbai as the 21st IIM in the IIM Act. The amendment is expected to be introduced during the upcoming monsoon session of Parliament, leading to the establishment of an IIM in Mumbai.
As the 60-year-old NITIE Mumbai transforms into IIM Mumbai, the city will boast some of India’s finest business schools, including SPJIMR, SJMSoM IIT Bombay, JBIMS, and NMIMS. In 1963, the Government of India established NITIE with support from the United Nations Development Programme (UNDP) through the International Labour Organization (ILO) to cultivate skilled professionals.
NITIE Mumbai, funded by the Government of India, achieved a commendable rank of #7 in the MHRD NIRF Ranking 2022. NITIE provides a diverse range of management programs, including PGDM, Executive PGDM, and Doctoral programs.
Currently, there are a total of 20 IIMs in India, along with their establishment years.
| All IIMs In India | Year of Establishment |
| IIM Calcutta | 1961 |
| IIM Ahmedabad | 1961 |
| IIM Bangalore | 1973 |
| IIM Lucknow | 1984 |
| IIM Kozhikode | 1996 |
| IIM Indore | 1996 |
| IIM Shillong | 2007 |
| IIM Raipur | 2010 |
| IIM Ranchi | 2010 |
| IIM Rohtak | 2010 |
| IIM Tiruchirappalli | 2011 |
| IIM Udaipur | 2011 |
| IIM Kashipur | 2011 |
| IIM Amritsar | 2015 |
| IIM Bodhgaya | 2015 |
| IIM Nagpur | 2015 |
| IIM Sirmaur | 2015 |
| IIM Sambalpur | 2015 |
| IIM Visakhapatnam | 2015 |
| IIM Jammu | 2016 |
| IIM Mumbai (NITIE) |
Established in the year 1963, it is anticipated that the institution will be officially renamed IIM Mumbai in the year 2023. |
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 to approve three bills ahead of the Monsoon session of Parliament, one of which was a bill on amending the IIM Act to include the NITIE, Mumbai as the 21st IIM.){kind=link}