New Delhi, Aug 20 (NationPress) Assam Chief Minister Himanta Biswa Sarma expressed his enthusiasm on Wednesday regarding the approval of the IIM (Amendment) Bill, 2025 in the Rajya Sabha, referring to it as a “historic day” for the state. This bill has cleared the path for the establishment of Assam’s first Indian Institute of Management in Palasbari, located near Guwahati.

In a statement on the social media platform X, Sarma attributed this accomplishment to the “unwavering commitment” of Prime Minister Narendra Modi, as well as the backing of Union Home Minister Amit Shah and Union Education Minister Dharmendra Pradhan.

He also expressed his appreciation to the Members of Parliament who supported the bill, labeling it a significant milestone in Assam’s developmental progress.

The demand for an IIM in Assam has been longstanding among students, academia, and civil society, who have emphasized the necessity for top-tier management education facilities to align with the state’s growing economic potential.

The new campus in Palasbari is projected to serve not only students from the Northeast but also to attract talent from across India, potentially enhancing the region’s educational and industrial landscape.

Importantly, the Lok Sabha approved the Indian Institutes of Management (Amendment) Bill, 2025 on Tuesday, paving the way for the new institute in Guwahati.

The central government has allocated Rs 550 crore as capital investment for this initiative. This forthcoming institute will be the second IIM in the Northeast, complementing IIM Shillong, and will be recognized as an institution of national significance.

Education Minister Dharmendra Pradhan, who led the bill, successfully guided it through the House via a voice vote. The session was, however, marked by vocal protests from the Opposition regarding the Special Intensive Revision (SIR) of electoral rolls in Bihar, leading to an immediate adjournment post-passage.

The establishment of the new IIM is part of a Special Development Package (SDP) for Assam, formulated under a Memorandum of Settlement involving the central government, the state administration, and representatives from the United Liberation Front of Assam (ULFA).

Assam has advocated for this institute, emphasizing its geographical importance and the urgent need to stimulate regional growth.

Until a formal Board of Governors is established for IIM Guwahati, the draft legislation permits the Union government to appoint individuals to carry out the Board’s responsibilities.

Currently, there are 21 IIMs across India recognized under the IIM Act as institutions of national importance. The addition of Guwahati will further extend the network of premier management schools into the Northeast.