"The upgradation will grant us enhanced flexibility in the matters of affiliation and other benefits," Vice chancellor of the Sansthan, P N Shastri told reporters here.
A proposal in this regard is being actively considered by the HRD Ministry following the recommendation of the Second Sanskrit Commission.
The institute with its 11 campuses, 26 Adarsh Sanskrit mahavidyalaya and other mahavidyalayas spread across the country has over 20,000 students enrolled for various courses and obtaining training in tradition shastras like Veda, Vyakarana, Sahitya etc.
The 'national importance' status is currently enjoyed by institutes like IITs, AIIMS, some central and state universities as the government is also working towards conferring the status on IIMs.
Talking about its forthcoming initiatives, Shastri said they would introduce diploma programms in Ayurveda and Yoga likely from the coming academic session.
The institute will be celebrating its 5th convocation day here on Wednesday and it will be attended by HRD Minister Smriti Irani.