The Munjals of Hero group have tied up with MIT Sloan School of Management to develop Munjal Global Manufacturing Institute (MGMI), one of the four new institutes coming up at the Mohali campus of Indian School of Business (ISB).
The business school of Massachusetts Institute of Technology will provide faculty support and help design the curriculum, offer joint executive-education programmes and facilitate joint-action learning projects for management students. Describing MGMI as an one-of-its-kind management institute dedicated to promote manufacturing excellence in the country, Mr Sunil Kant Munjal, Chairman of Hero MotoCorp said there is no such institute in the country at present. Mr Munjal said the country is currently lagging in the manufacturing segment and the objective of achieving at least 25 per cent of the GDP from this sector can be realised only if the country focussed on globally competitive manufacturing.
“We were fortunate to get a partnership with MIT, which is considered the finest institute in the world known for technology and converting technology into manufactured goods. We hope the institute will help raise the positioning of the manufacturing,” said Mr Munjal.
The Munjal family has pumped in Rs 50 crore to help ISB set up the institute, which will consider roping in IIT-Ropar and other Punjab-based institutes and industrial houses to create a virtual space for young entrepreneurs. “We hope the MGMI will offer holistic management expertise for students to build, promote and nurture manufacturing enterprises, apart from creating leaders in policy advocacy,” said Mr Munjal.