When Indian Institute of Management Kozhikode climbed into the NIRF top three, it marked more than just a ranking shift. The institute is now pushing for a broader reset in how management education in India is structured — from seeking greater autonomy for top IIMs to expanding beyond the traditional MBA into a multi-disciplinary university model.
In an exclusive interview, Director Debashis Chatterjee outlines his views on deregulation, the need to rethink placements as a talent-readiness process, and how institutions are adapting to artificial intelligence in the classroom — offering a candid take on the reforms shaping the next phase of Indian management education.
Q: IIM Kozhikode has risen rapidly in rankings and now holds all three international accreditations. How do you see the institute’s journey, and what are the strategic priorities for the next decade?
Dr Chatterjee: See, you can define our trajectory from three Ds — digitisation, diversification and disruption.
When I say digitisation, we were the first IIM in 2001 that foresaw the challenge of a remote campus. There was an article in Mint that said this is more like a tourist resort than a business school because there is no ecosystem or industry here. We said to break that jinx of geography, we have to reinvent the school in terms of its digital face. We started the first on-site learning programme, perhaps in Asia. From there, we have morphed this into what is today known as a hybrid executive PGP programme. Our enrolment currently is 700 — top quality, high-performing individuals from multinationals and Indian companies.
Going forward, digitisation is not just another add-on programme — it is a strategic shift. When you make the system more lean, you leave bandwidth for faculty to experiment with the next generation of teaching and learning — more reflection, more quality interaction with students, coaching them rather than just performing in front of them.
On diversification, we were the first IIM to bring in 53.75% women in 2013. But diversity is not just of one kind. We now have four different avatars of PhD and four different MBAs — classical MBA, MBA in Finance and Banking, MBA in Liberal Studies, and MBA in Business Leadership. We have also gone into an undergraduate programme. I can see IIM morphing into an IIM university — multidisciplinary, with management as the core connecting with economics, analytics and social enterprise.
Q: Tell us more about the undergraduate programme.
Dr Chatterjee: It is called BMS — Bachelor of Management Studies. A four-year programme with an exit option after three years. This is not a conduit to an MBA, unlike other BBA programmes. We are saying this is a bridge to many options. If you want to study economics or physics after three years, you can.
We are giving you an honours degree, and you have the option to do an MBA if you want — but if you do not, that is perfectly fine too. Most students do not want to get locked into a two-year MBA immediately after college.
Admissions this year will be through our own IIM Kozhikode entrance process. We had 80,000 expressions of interest, over 4,000 shortlisted, and we have taken 110 students. It will be fully residential — on a separate campus in Kochi, deliberately kept apart from our MBA. We do not want this rat race for jobs; we want people who can create jobs.
Q: With AI and automation reshaping industry, how is the MBA staying relevant?
Dr Chatterjee: We are not shying away from AI. We have commissioned an AI policy — a team is actively working on it. Right now, the policy says we do not want to frame rigid rules because we do not yet know where the technology is going. We have to be inside the technology to understand it.
For instance, a student doing a term paper can use ChatGPT to produce it in five minutes. We said — fine, but you must disclose that it is AI-generated, and you must produce 20% above that baseline. That 20% is where you will be evaluated. You have to cross the threshold the AI has set.
For faculty, AI is like a paid secretary or editor. It would be counterproductive not to use it. But having used it, you must understand — if you do not go through the struggle in your own mind, you will not learn how to think for yourself. So our policy is open-ended and evolving based on actual usage. Regulations will come from outside as well, and we are watching that space closely.
Q: There is increasing scrutiny on the ROI of an MBA as fees rise. How do you justify the value proposition?
Dr Chatterjee: You have to see that this fee is not for a one-year turnaround. Students typically calculate whether their first salary equals their fee. I am saying the IIM degree has lifelong relevance. Divide the fee across a 30-year horizon — then see what that looks like.
Also, for us ROI means Return on India, not just return on investment. Whatever we generate is ploughed back into the institution — infrastructure, faculty, global connections. The concept of ROI in an IIM is fundamentally different from a private institution. Today we are ranked in QS alongside Princeton, Tokyo University, Leeds and the University of New South Wales — not without reason.
Q: Is the one-year Executive MBA giving competition to the two-year programme?
Dr Chatterjee: Think of it like Test cricket versus one-day cricket — both have their relevance.
A one-year programme works for someone who already has corporate experience and understands organisational frameworks. ISB pioneered this model with candidates who had three to four years of experience, and it works for them.
But for a fresh graduate who has not seen industry, one year is not enough. You need time to reflect, apply learning and get feedback. Learning is information plus reflection — and that reflection takes time. So both formats will continue to coexist.
Q: Placements at IIMs have seen turbulence over the past couple of years. How do you see the trend evolving, especially given global uncertainty?
Dr Chatterjee: We have moved away from the word “placement”. The office is now called CARE — Corporate Access Readiness and Engagement.
How is it different? I do not know how the market will evolve. There may not be jobs in the traditional sense, but there will always be customers for your talent. My role is to help you discover that talent. I am not guaranteeing placement — I am guaranteeing readiness. After that, it is between you and the market.
The pecking order has also shifted. Earlier it was financial institutions, then FMCG. Today it is consulting, followed by BFSI and startups. Interestingly, banks have recruited our Liberal Studies students for their broader outlook — something technical training alone cannot provide. There are no jobs out there; there are only customers for your talent.
Q: What policy or regulatory changes are needed to make Indian management education more competitive globally?
Dr Chatterjee: The top institutions — the top six IIMs — should be given the space to function on their own terms. Every country has an Ivy League. India has one too. The role of the best institutions is to pull up the rest. But if the rest pulls down the best, then we are not building any league at all.
Several IIMs are now in global rankings like FT and QS top 100. The regulatory framework must recognise that these institutions are operating at a global level. The goal should be to strengthen that capability, not constrain it with domestic benchmarks.
Q: IIMs have long sought greater autonomy. How do you see that conversation evolving?
Dr Chatterjee: Autonomy is not something that is given — it has to be taken. If you are a performing institution, you are not easily interfered with.
Autonomy is earned. But even after earning it, if there is encroachment, you negotiate — that is the role of leadership. If you do not use your autonomy, it will be taken away.
That said, I do believe the space for negotiating autonomy is shrinking nationally. In my case, it has not, because I have been very clear about my terms of engagement. The day that changes, I will say so.
Q: Where do you see Indian management education in the next ten years?
Dr Chatterjee: As long as there is mismanagement, there will be relevance for management. India is a mismanaged country, and so is the world. So management will remain relevant.
But it must continue to reinvent itself — in response to geopolitics, technology, AI and changing enterprise dynamics. If it loses that connection, it loses relevance.
The fact that 250,000 to 300,000 students apply here tells you something — there is enduring value. That comes from institutions being open to change while restoring what matters. Those are the real questions management education must keep asking.
