Visakhapatnam: Founded a decade ago in a transit campus with faculty drawn in from IIM-Bangalore, the Indian Institute of Management in Visakhapatnam has undergone a remarkable 360-degree transformation in these 10 years. Despite the myriad of challenges that any new institution encounters, IIM-V has not only overcome its initial teething problems but has also thrived, charting a promising path of growth.
The institute’s foundation stone was laid by then HRD minister Smriti Irani in Jan 2015, and by Sept 2015, the first batch of 50 students had commenced their classes. Fast forward to 2025, IIM-V serves over 3,000 learners annually through a mix of on-campus, online, and hybrid programs, including 600 students in its flagship PGP program. Impressively, it stands as the only institute in Andhra Pradesh to have achieved a 100% placement rate for the last eight consecutive batches. The Institute topped all new-generation IIMs in the NIRF rankings for the last three consecutive years.
Looking ahead, IIM-V is progressing well towards earning prestigious international accreditations, including the AACSB (Association to Advance Collegiate Schools of Business) from the USA and the BGA (Business Graduates Association) from the UK. Following these, the goal is to secure accreditation from AMBA (Association of MBA Schools), aligning itself with globally renowned management institutions.
Prime Minister Narendra Modi virtually inaugurated its permanent campus, a fully digitally enabled, state-of-the-art facility, in Gambheeram in Feb 2024. However, in response to the increasing demand, the institute is expanding its infrastructure, constructing new hostels to accommodate an additional 600 students and further enhancing its academic offerings. IIMV-FIELD, the startup incubation centre, has nurtured approximately 180 startups, with about 75% being women-led.
Speaking to TOI, IIM-Vizag director Prof M Chandrasekhar, now in his second term, said that over the past decade since its establishment, the institution has built a solid reputation, providing comprehensive and holistic management education of the highest quality, blending theory with practice for both young and experienced knowledge-seekers. “It is grooming leaders who can contribute as professional managers, entrepreneurs, and stewards of existing and emerging enterprises in the private, public, and social sectors. Progressing steadily from the stage of a single academic program – namely, the first batch of the on-campus MBA starting in 2015 – followed by the PhD program that commenced in 2019, the Institute today offers a wide array of academic and capacity-enhancement programs in both offline and hybrid modes,” said Prof. Chandrasekhar.
“The Institute has emerged as a much sought-after destination for executive education. Its sponsors and supporters include ministries and departments of Union govt, large central public sector enterprises, the Central Vigilance Commission, the Capacity Building Commission, the World Bank, and renowned private-sector and not-for-profit organisations. For example, we are the only IIM offering capacity-building programs in public procurement, supported by the Central Vigilance Commission and the procurement policy division of the department of expenditure. Moreover, we are the only IIM that is training young scientists from the science and technology ministries of Union govt, under the aegis of Capacity Building Commission,” added the IIM-V director.
“Building on our achievements over the past decade, as we aim to reach greater heights of excellence and scale higher peaks of success, we will continue to work closely and collaboratively with all our stakeholders,” said Prof Chandrasekhar.
