Section 4. In view of the above, it becomes necessary to have a Central Legislation, namely the Indian Institut

4. In view of the above, it becomes necessary to have a Central Legislation, namely the Indian Institutes of Management Act, 2017 in the larger interest of students. The degree-granting power to IIMs will not only enhance the universal acceptability of degrees being awarded by these premier institutions, but also empower these institutions to attain standards of global excellence, especially in management research.