IMD comes to India

The Swiss B-school is opening a research centre in Mumbai.

Switzerland based business school, International Institute for Management Development (IMD) is entering India by establishing a research centre in Mumbai. The centre is part of the institute's effort to expand its network in India, China and Latin America.

"Our focus on India and China is very deliberate. Clearly, a better understanding of consumerism in both countries is critical for global business. There is a huge market for products and services coming from India and China to Europe. Through this centre, we hope to be a meaningful catalytic resource for Indian companies who want to be more successful in Europe and likewise," said Peter Lorange, President of IMD International.

Closely modelled on the centre it recently established in Shanghai, the institute would employ the services of local business executives to develop the centre, its study materials and research activities.

The centre would be established with IMD's independent resources. Around 27 per cent of IMD's overall finances are marked for research and development which would be utilised for the Indian centre, Lorange told Business Standard.

The research centre has been co-ordinated with Indian corporates and IMD's business associates, one of whom is Ratan Tata, the Chairman of Tata Group. Although the institute is scouting the corporate corridors in the country to appoint a director, the candidate hasn't been finalised yet.

The centre would focus on a better understanding of the Indian political system, growth of consumerism, study of developed and developing regions in the country, migration patterns, infrastructure development and human resources among others.

Apart from research activities, the Indian centre would also offer short tailored programmes for executives where local cases would be taught with a global perspective.

Upon commencement of the centre, the institute plans to organise a project on microfinancing which would be implemented at the grassroots level in the country.

This has been done with the aim of understanding diverse backgrounds which would benefit the centre in its expansion across the country, said Lorange.