'Entrepreneurship is where India's real future lies'

After nearly two years without a permanent director, Indian Institute of Management (IIM) Calcutta has entered a new phase under the leadership of Professor Alok Kumar Rai, former vice-chancellor of University of Lucknow. During a conversation with Pritha Roy Choudhury, he talks about introducing AI-driven programmes and strengthening entrepreneurship while addressing emerging challenges in management education. He also shares his views on rankings, financial autonomy, and the evolving purpose of MBA education in a rapidly changing industrial landscape. Edited excerpts:

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Q. There was no permanent director at IIM Calcutta for nearly two years. How do you plan to address any issues that may have arisen during that time?

A. There was always a director, we may not have termed the person as a full-time director due to procedural reasons, but there was a director in-charge who was fully responsible for running the institute. IIM Calcutta is a very structured and responsible institution. Our programmes and processes are well defined. The institute has continued to function effectively within those procedures, which is evident from its consistent performance in international rankings. Of course, no institution is ever perfect. Even four years from now, I would still say we are evolving, because education, society, and industry are all dynamic. It's important to be receptive to change, and that we continue to evolve.

Q. What are some of the new initiatives you have undertaken?

A. On the academic front, we are about to start online education. By the end of this month, we will sign a MoU with an industrial organisation to set up a Centre for Online Education, under which we will launch certificate, diploma, and degree programmes. I can't disclose our partner organisation yet as the final MoU is pending, but the programme will largely be AI-based.

We're also planning two other programmes – in healthcare and in design – which is in collaboration with two leading institutions in the country. Besides these, we are recruiting new faculty to support our expanding programme portfolio. We've also completed accreditation visits. Two reports are in, and we're awaiting the third. With that, our triple-crown accreditation will continue. Infrastructure development is another major focus area.