The Indian Institutes of Management (IIMs) are centrally funded schools for management offering undergraduate, postgraduate, doctoral, and executive programmes in business administration. The establishment of IIMs was initiated by the first prime minister of India and were subsequently declared Institutions of National Importance.

We spoke with Professor Himanshu Rai, Director of the Indian Institute of Management Indore (IIM Indore) since December 2018, about his career so far, how the school has developed over the years, and his hopes for the future: 

Please introduce yourself and your career to date.

With a 193-acre campus located atop a hill in Indore, and an extension campus in Mumbai, IIM Indore has a strength of over 1900 students across eight different programmes, a vibrant community of 110 faculty members, a few hundred staff, and their families. We also have a diverse portfolio of Executive Education programmes with over 200 programmes cutting across disciplines, with a strong presence in the Middle East and GCC countries. I am responsible for developing and implementing the institute’s strategic vision and managing stakeholders with the help of four Deans, two Associate Deans, multiple chairpersons of programmes and functions, and four senior officers (Administration, Engineering, Finance & Accounts, Learning Centre), who are appointed by me and constitute my senior leadership team.

My career spans both industry and academia. Before joining IIM Indore, I served as the Dean of SDA Bocconi’s India campus and as a Professor at SDA Bocconi, Milan besides teaching at IIM Lucknow and XLRI. Prior to my academic journey, I spent over eight years at Tata Steel, the largest steel company in India by domestic production, where I had the opportunity to develop the Quality Systems for two of its departments, and the Communication Policy of the organisation. I’ve been privileged to train over 50,000 professionals in negotiations and leadership, coming from both the government and the private sectors, in different parts of the world. I am also a consultant to the Government of India, the World Bank, and a host of other government and private organisations.

I’ve authored books, including a bestseller on “Negotiation” published by McGraw Hill, an Indian adaptation of “Organizational Behaviour,” co-authored with Steven McShane and Mary Ann Von Glinow, and “Pravah”, a Hindi book inspired by ancient Indian scriptures. I write weekly columns in two Indian newspapers, one of which has a readership of 25 million.

What do you enjoy most about your role at IIM Indore?

The opportunity to shape and inspire future leaders who are not only academically sound but also socially responsible. Being part of a transformative educational environment, I am constantly energised by the passion and curiosity of our students, faculty, and staff. It’s immensely rewarding to see how ideas born in our campus translate into real-world solutions that impact businesses, communities, and society at large.

One of the most fulfilling aspects is our focus on holistic development – education that goes beyond textbooks. Our emphasis on experiential learning through programmes like Rural Engagement Programme (REP) and the Himalayan Outbound Programme (HOP) ensures that ethical leadership and social sensitivity aligns deeply with the institute’s mission and my personal philosophy. In the REP, our students live in the villages of India for a week, experience the challenges that they face, and then offer solutions to mitigate them. In the HOP, besides an arduous trek that teaches leadership and team building, the students also get sensitised to environmental issues. I find great satisfaction in our institute’s efforts to not just train successful professionals, but to nurture compassionate, resilient individuals who understand the value of giving back to society.

IIM Indore’s culture of innovation and collaboration offers endless opportunities for creative problem-solving and strategic thinking, whether it’s through partnerships with global institutions, industry collaborations, or initiatives aimed at addressing critical societal issues. This constant drive for improvement, coupled with a commitment to our core values, makes my role not just a job but a fulfilling journey of continuous learning and contribution.

Could you tell me about the progress your school has made over the last five years?

In the last five years, IIM Indore has made significant strides in multiple dimensions – academic excellence, infrastructure, global collaborations, and societal impact. One of the highlights has been the institution’s commitment to addressing global challenges through interdisciplinary research and teaching. We have introduced new programmes that are aligned with the needs of a rapidly evolving business landscape, including our focus on technology, innovation, and leadership for Industry 5.0.

We have expanded our global footprint through partnerships with top institutions worldwide, which has opened up opportunities for student and faculty exchanges, joint research projects, and international conferences. Our MiM, Global MBA, EMBA, and Executive Education Programmes are now ranked at the top by Rankings Agencies such as QS, FT, and Eduniversal. We have also been ranked #2 globally by LinkedIn for our networking opportunities. Thanks to my wonderful team, IIM Indore achieved Triple Crown accreditation five years back, and continues to hold it. With a strategic focus on executive education, we have increased our EE revenues six-fold in five years!

On the infrastructure front, we have invested in world-class facilities that not only enhance the learning experience but also promote sustainability. Our campus is now a green oasis that reflects our commitment to the environment – and we are in the process of our final campus expansion, worth $60-65 million – which will also be a net zero campus.

Importantly, we’ve strengthened our efforts in social responsibility. IIM Indore is known for its focus on producing responsible leaders and prides itself in being the leading institute in participating in nation-building and community outreach. We have collaborated with state governments, administration, and other departments and organisations, and are working on several projects and initiatives that contribute to nation-building.

In an era defined by purpose-driven education, what is IIM Indore prioritising this year?

This year, IIM Indore is focusing on enhancing its role as a purpose-driven institution by integrating sustainability, inclusivity, and ethical leadership into the core of our educational philosophy. We have identified five wicked problems of India and, in fact, the modern world – Inequality, Urban Challenges, Rural Issues, Environmental Issues and Climate Change, and Lack of Entrepreneurial Spirit – and we are trying to address them and build leadership that can think beyond profit and focus on creating value for the society as a whole.

For instance, to tackle inequality, IIM Indore is working on creating women microentrepreneurs as well as helping raise the income of low-income-group artisans by strengthening a programme of the Government of India called One District One Product (ODOP). Our focus on rural artisans helps us in mitigating rural issues as well. Our Centre of Excellence ANVESHAN, in partnership with the Ministry of Housing & Urban Affairs, Government of India, focused on waste management, and WASH (Water, Sanitation & Hygiene) is helping our country tackle urban infrastructure issues.

Our goal is to educate future leaders who are not only competent in business but also conscious of their impact on the environment and society. We are also prioritising inclusivity by ensuring that our programmes are accessible to a diverse group of students. This includes offering scholarships, encouraging a culture of respect and equity, and providing platforms where diverse voices can be heard and contribute to the dialogue.

Additionally, we are placing a stronger emphasis on experiential learning through live projects, global immersions, and partnerships with industry leaders. As of 2024, we have collaborations with 58 foreign institutes in 23 countries. This approach ensures that our students are not just learning in classrooms but are also engaging and networking with their peers from a different background, and having conversations about real-world challenges. This helps in making their education relevant, impactful, and purpose-driven.

How is the school doing its part to tackle climate change?

Addressing climate change is not just a commitment but also a fundamental part of our institutional vision. We recognise our responsibility to not only reduce our environmental impact but also shape future leaders who prioritise sustainability in their business practices.

Our campus is a living example of green infrastructure. Apart from declaring the campus as a no-single-use-plastic campus, we have introduced a wide range of eco-friendly initiatives, including energy-efficient buildings equipped with rooftop solar panels, use of e-vehicles, establishing advanced water conservation systems, and a comprehensive wet and dry waste management system. We have bird feeders at one hundred spots across our 193-acre campus, and have a dog shelter that takes care of all the stray dogs on the campus.

Our efforts to minimise our carbon footprint extend to a large-scale tree-planting initiative and the transformation of previously planned cemented areas into vibrant green spaces and gardens. Notably, our organic garden, which yields 12 tonnes of vegetables annually along with medicinal herbs, echoes our commitment to self-sustenance and ecological balance. The organic produce and herbs are distributed free to our employees, reinforcing our philosophy of community well-being. The air quality index (AQI) on our campus consistently outperforms that of the surrounding city, proving the success of our environmental initiatives.

On the academic front, sustainability is deeply embedded in our curriculum across various disciplines. Furthermore, our Centre of Excellence, ANVESHAN, leads impactful research and policy training, particularly focusing on Waste Management and WASH (Water, Sanitation, and Hygiene), and regularly trains municipal commissioners and policymakers to implement sustainable practices in urban governance.

Through these comprehensive measures, IIM Indore is not only drastically reducing its environmental footprint but also preparing the next generation of leaders to integrate sustainability into their core values, ensuring that their impact transcends profit to benefit the planet. Our mission is to cultivate a sustainable mindset that endures long after students leave our campus.

What’s your vision for the future of IIM Indore?

My vision for the future of IIM Indore is to shape it into a globally recognised institution that pioneers innovation, nurtures inclusivity, and creates profound societal impact. I see IIM Indore placed among the top 50 management schools in the world in the next five years, where our graduates are not just business leaders but change-makers who drive meaningful transformations across industries and communities.

The institute will continue to build on its foundation of three core pillars: academic excellence, social responsibility, and global relevance. We will deepen our research capabilities, promote interdisciplinary collaboration, and strengthen partnerships with institutions and industries worldwide to ensure our programmes remain forward-thinking and aligned with the needs of Industry 5.0 and the world. By embracing cutting-edge technologies like AI, data science, and sustainable practices, we aim to equip our students to thrive in a constantly evolving global landscape.

A crucial part of my vision is to make IIM Indore a hub for sustainable, socially responsible leadership. We are committed to integrating sustainability into every aspect of our curriculum, research, and operations, instilling a mindset in our students that prioritises long-term societal value over short-term gains. Our goal is to produce leaders who not only excel in business but also contribute to creating a more equitable and sustainable world.

Looking ahead, IIM Indore will expand its outreach to make high-quality education accessible to students from all walks of life, championing diversity as a key strength. We will amplify our role in addressing global challenges – whether through innovative educational initiatives or impactful collaborations – cementing our place as a leader in management education that drives both economic progress and social good.

For additional insights, announcements, and perspectives on business school leadership, visit the conversation here.