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| Edited By: KV Ramana |Source: DNA |Updated: Mar 18, 2018, 04:35 AM IST
Massachusetts Institute of Technology’s (MIT) Sloan School of Management will set up the Munjal Global Manufacturing Institute at the upcoming campus of the Indian School of Business (ISB) at Mohali, Punjab.
The development is part of the initiatives of the Munjals, the promoters of Hero Group, to introduce cutting-edge research and management practices in the manufacturing sector.
Charles Fine, a co-director of MIT Sloan’s international motor vehicle programme, is associated with the programme at the Munjal institute.
“One of the unique features of the institute is going to be a focus on research in manufacturing. In fact, there is no institute in India today which looks at manufacturing with a thorough perspective,” said SK Munjal, joint managing director of Hero MotoCorp.
The ISB has been working on setting up a new campus at Mohali with four specialisations — healthcare management, infrastructure management, public policy and manufacturing — with the association of the Bharti, Max, PunjLloyd and Hero groups.
The campus is expected to cost about Rs200 crore with the four sponsors sharing the cost equally.
The Hero group has taken the responsibility of setting up an institute focusing on manufacturing. “Currently, the contribution of manufacturing to the GDP is lower than that of services. There is a need to change the current mix of economy in terms of services versus manufacturing. As we become more global, there is a need to be more globally competitive,” said Munjal.
The institute will start taking in students from April 2012. However, these would be lateral entries rather than freshers.
According to Munjal, it makes more sense to train those with 3-5 year experience in the best practices in the sector than focus on freshers.
The business school of MIT would support the Munjal Institute by providing faculty support and curriculum design in the area of manufacturing, offer joint executive education programmes and facilitate joint action learning projects for management students.
This is over and above the association the ISB has with the Wharton School, Kellogg School of Management and London Business School.
