Chandigarh/Hyderabad: Indian School of Business, (ISB), one of the top 20 business schools in the world, will set up a new campus at Mohali in Punjab.
A tripartite agreement to this effect was signed in Chandigarh on Wednesday by the Hyderabad-based ISB, Punjab government and four corporate giants -- Max India, Bharti, Hero and Punj Llyod.
ISB Mohali will be the second campus of this premier management institute in the country. The institute has its campus in Hyderabad.
ISB, with the support of existing associate schools, Wharton School and Kellogg School of Management, will set-up and run the Mohali campus, just like its Hyderabad campus, as a world class academic institution for providing post graduate programmes in management and short duration executive education programmes.
"The ISB (Mohali) will be established under a unique model of public-private partnership," an official spokesman told reporters after the signing of the pact.
The Punjab government has allotted 70 acres for the ISB campus on a 99-year lease at Re.1 per acre annually, as part of its vision to establish a world class premier management institute at Knowledge City, the spokesperson said.
The agreement was signed by Anjali Bhawra, secretary higher education on the behalf of the Punjab government and Rajat Gupta, chairman of board of governors on the behalf of the ISB.
The first academic session at the ISB campus in Mohali is expected to commence in 2012.
The ISB campus at Mohali proposes to have 280 seats in its post graduate programme. It will also have several short duration executive education programmes where approximately 750 professionals will be able to participate.
The campus will also have four specialist institutes for promoting research and offering additional specialisations.
The institutes will be called Max India Institute of Healthcare Management, Bharti Institute of Public Policy, BML Munjal Institute of Manufacturing and Operation Excellence, and Punj Lloyd Institute of Physical Infrastructure Management.
The founder supporters of the ISB campus at Mohali will contribute Rs.500 million each.
"It has been an exciting and eventful journey for ISB from its inception in 2001 to becoming a top ranked global business school in seven years. The Mohali campus is another significant milestone for us," Rajat Gupta, chairman, ISB said in Hyderabad.
"The ISB owes its remarkable success to the high level of commitment of its executive board, the resident and visiting faculty, its administrators, and its alumni," said M. Rammohan Rao, Dean, ISB.
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