At present, there are two NIDs in the country, one each in Ahmedabad and Bengaluru.
The classes for the new institute would commence from this academic year temporarily on the campus of Acharya Nagarjuna University, the Minister told reporters here.
The process of entrance examinations for the NIDs at Ahmedabad and Bengaluru has been completed, she said.
The All India Management Association, Delhi, was given the responsibility to conduct the entrance examinations for the NID to be set up in Vijayawada, she said.