We are pleased to announce that LM Thapar School of Management and Thapar Institute of Engineering and Technology have successfully completed the EFMD Business School Impact System assessment process and have been awarded the BSIS label for positive impact.

The EFMD BSIS review team recognised both institutions for their contributions that extend well beyond education, generating measurable value through research, innovation, entrepreneurship, and regional engagement.

Addressing the school’s achievement, EFMD BSIS Director François Bonvalet remarked:

“Congratulations to LM Thapar School of Management and Thapar Institute of Engineering & Technology on achieving the BSIS label. The assessment demonstrates the breadth of their contribution across education, research, innovation, economic development, and societal engagement. Both institutions have built strong relationships with their stakeholders and regions while maintaining clear ambitions for future growth and international reach. We are pleased to welcome them to the BSIS community and recognise the positive impact they continue to generate.”

Thapar Institute of Engineering & Technology

Thapar Institute of Engineering & Technology (TIET), founded in 1956 on its 250-acre campus in Patiala, Punjab, is an institution with a strong international orientation grounded in regional engagement. With more than 13,000 students across undergraduate, postgraduate, and doctoral programmes, TIET attracts students from across India and internationally.

The BSIS process highlighted its development as a globally connected, innovation-driven university while also functioning as a technology and innovation hub within its regional setting. This positioning is reflected in its emphasis on industry-ready talent development through applied, project-based pedagogy, venture-focused innovation through a structured entrepreneurial ecosystem, and co-creation with industry via corporate-sponsored laboratories, endowed chairs, and applied research partnerships.

The institution’s intellectual agenda prioritises problem-centred research with relevance to industry and society, while its regional role includes supporting MSME modernisation through technical clinics and digital and AI adoption initiatives. These activities are framed within a broader societal mission aligned with national priorities, sustainability goals, and inclusive development, supported by expanding international collaborations and research consortia.

Financial contribution to the region

TIET was identified as a significant contributor to regional economic activity. Its total financial impact, including institutional expenditure, student and visitor spending, and multiplier effects, was estimated at approximately INR 27.9 billion for 2024–25. This contribution is reinforced by employment generation and associated activity in housing, retail, construction, and services, as well as ongoing investment in laboratories, Centres of Excellence, and campus infrastructure.

TIET’s academic model is defined by strong industry alignment and applied learning, with extensive use of capstone projects and practice-oriented pedagogy supporting graduate employability and professional readiness. The institution is also recognised as a well-established alternative pathway for high-performing students outside the IIT system.

Business development and entrepreneurship

The review team observed a structured entrepreneurial environment supported by MeitY TIDE 2.0, the Startup India Seed Fund Scheme, Venture Lab, and Startup Punjab. Incubation activity during the review period supported early-stage ventures across health technology, education technology, artificial intelligence, and sustainable materials.

The Thapar Innovate Cell facilitated the entry of 63 companies into the region, bringing the total to 88 across departments. TIET-linked start-ups were reported to have generated 2,820 jobs, while internship activity was valued at approximately INR 195 million.

Research and intellectual output

Between 2022 and 2025, TIET produced more than 3,100 journal articles, 277 doctoral completions, 763 conference presentations, and hosted 36 conferences. Engineering departments recorded more than 22,000 citations, with faculty represented in Stanford and Elsevier Top 2% Scientist rankings.

Research funding totalled approximately EUR 43.5 million, supporting work in sustainable construction, water systems, renewable energy, agriculture, and smart infrastructure. International collaborations included IIT Ropar, Virginia Tech, Imperial College London, Nanyang Technological University, and the University of Birmingham. The review noted increasing emphasis on applied research and co-creation with external partners.

Regional and civic integration

TIET maintains extensive engagement with regional institutions and industry, with around 80 formal collaborations reported. Partners include Punjabi University, Indian Institute of Technology Ropar, Punjab Agricultural University, Postgraduate Institute of Medical Education and Research Chandigarh, PepsiCo, and the Trident Group.

Faculty members serve in advisory and governance roles across bodies such as the Punjab Pollution Control Board and the State-Level Expert Appraisal Committee. More than 547 external practitioners contribute to teaching activities, reinforcing applied orientation and industry relevance.

Societal responsibility

TIET’s activities are mapped against 11 of the 17 UN Sustainable Development Goals, covering climate action, sustainability governance, inclusion, and workplace policy frameworks.

Environmental initiatives include a 25% emissions reduction target by 2030 and net zero by 2070, supported by solar installations, EV infrastructure, reduced vehicle use days, and measures to reduce plastic use. Women constitute more than one-third of the faculty, with formal equality action plans in place.

A pond rejuvenation model developed at TIET has been adopted by the Government of Punjab for implementation across 125 village ponds in Bathinda district, supported by state investment of INR 45 billion.

Visibility and reputation

TIET recorded 719 media citations and 706 feature articles over the review period across national outlets, including India Today, The Hindu, Times Now, and CXO Today. Key initiatives include the ThaparSat satellite programme, addressing environmental monitoring, and a partnership with NVIDIA focused on AI training and curriculum integration.

The review concluded that TIET holds a strong position in India’s higher education sector, combining sustained academic performance, regional engagement, and an expanding international profile, supported by structured industry collaboration and applied research.

Professor Padmakumar Nair, Vice Chancellor, Thapar Institute of Engineering & Technology (TIET), Patiala, India, commented:

“The BSIS assessment provided us with a comprehensive and rigorous, evidence-led framework to quantify and project our multi-dimensional impact across pedagogy, research, and industrial synergy. This process served as both a validation of our excellence in applied innovation and a strategic catalyst, sharpening our trajectory as a premier technology-driven institution. It provides a roadmap to amplify global relevance while cementing our role as a vital engine for regional economic and societal development.”

LM Thapar School of Management

Located on a dedicated campus in Derabassi near Chandigarh and Mohali in North India, LM Thapar School of Management (LMTSM) is only the third business school in India to join the Business School Impact System (BSIS) community. Established in 2007 and relocated in 2013 to its purpose-built 26-acre campus, the school is situated within a region characterised by a high concentration of micro, small and medium-sized enterprises (MSMEs).

The BSIS review team described LMTSM as “operationally strong, regionally embedded, academically developing, societally positive, and reputation-stable.” The review highlighted the school’s strong employability orientation, entrepreneurial ecosystem, growing research productivity, active community engagement, ecosystem leadership, and association with the Thapar brand.

Experiential learning and employability

LMTSM seeks to develop excellence-seeking management professionals and scholars with globally sensitive and social-entrepreneurial mindsets. Reflecting these mission pillars, the school has built a strong experiential learning environment centred on internships, live projects, corporate engagement, and industry interaction.

Supported by a structured academic environment and an outcome-based approach, students engage directly with business and social challenges in collaboration with local stakeholders and communities. With 422 students enrolled across MBA and PhD programmes, approximately half of whom come from outside the region, the school contributes significant geographic diversity to the local area.

The BSIS review also highlighted the strength of LMTSM’s alumni community. Graduates occupy leadership positions across corporate and non-corporate sectors, including public education reform and agritech entrepreneurship. Alumni engagement remains an integral part of institutional life and student learning.

Entrepreneurship, innovation and industry engagement

Entrepreneurship emerged as one of LMTSM’s most distinctive strengths in the BSIS assessment. Through its entrepreneurship-focused curriculum and Venture Lab, the school has created a vibrant environment for student-led innovation and venture creation.

The review highlighted 46 ventures developed through the Social and Commercial Entrepreneurship course, spanning food innovation, technology, fashion, sustainability, social enterprise, wellness, media, and campus services. Six alumni-founded start-ups were active during the review period, with one venture alone generating 103 jobs.

LMTSM’s engagement with start-ups, MSMEs, and industry stakeholders through internships, projects, and entrepreneurial initiatives further strengthens regional business development and industry-academia collaboration. Students undertake both summer and winter internships, generating substantial value for local organisations. The review estimated that internship activity contributed more than INR 451 million in value during the assessment period.

Research and academic engagement

The BSIS review recognised LMTSM’s growing research productivity and emerging intellectual footprint. During the three-year review period, faculty and doctoral researchers produced 71 peer-reviewed publications, participated in 31 conferences, and completed 11 PhD theses.

Faculty members remain actively involved in executive education, consulting, and professional engagement activities, strengthening industry relationships and enhancing the practical relevance of teaching and research. The review identified the MBA Business Analytics and Information Systems specialisation and PhD seminars in sustainability and social entrepreneurship as examples of research-informed teaching integrated into the curriculum.

Sustainability and societal impact

Community engagement is a defining feature of LMTSM’s activities. The school maintains extensive involvement in corporate social responsibility initiatives, NGO partnerships, and student volunteering programmes.

The review highlighted grassroots projects addressing clean water, sanitation, responsible consumption, and village-level development. Sustainability is integrated throughout MBA and PhD curricula, while the Social Responsibility and Sustainability Club actively engages with all 17 United Nations Sustainable Development Goals.

The review team observed that sustainability and social well-being are “at its very core”, reflecting the school’s commitment to creating positive societal impact through education, research, and community engagement.

Ecosystem leadership and economic contribution

The review recognised LMTSM as deeply embedded within its impact zone and well positioned for ecosystem leadership through engagement with public authorities, industry organisations, municipal bodies, educational institutions, and civil society organisations.

The school maintains an extensive network of partnerships, including 15 academic partnerships, six professional partnerships, five public authority partnerships, and nine additional institutional collaborations. Through the Management in Practice course, more than 40 professionals contribute more than 70 hours of direct classroom engagement, supporting applied learning and industry relevance.

The BSIS assessment concluded that LMTSM acts as a catalyst for regional development. Student expenditure, staff employment, vendor contracts, operational spending, and the school’s physical presence generate substantial economic activity across the region. The review estimated LMTSM’s direct and indirect financial contribution at INR 281.5 million, increasing to INR 703.8 million after application of a 1.5 economic multiplier.

Overall, the school’s financial profile was assessed as healthy, with strong growth potential and ambitious future development plans.

Reputation and positioning

LMTSM benefits from the reputation of the Thapar Group and the technical standing of its parent institution, Thapar Institute of Engineering & Technology. The BSIS review identified the school as a trusted and credible institution with a strong regional and national reputation.

The award of the BSIS label provides an evidence-based framework for articulating the school’s impact across economic, educational, societal, and reputational dimensions. The review concluded that LMTSM’s mission of academic quality, professional readiness, and social responsibility is clearly embedded throughout the institution and reflected in both faculty practice and student engagement.

Prof. (Dr.) D.P. Goyal, Director and Dean, LMTSM, remarked:

“At LM Thapar School of Management, we believe the true value of a business school lies in the meaningful impact it creates for learners, academia, industry, society, and the wider regional ecosystem. The BSIS process provided us with a comprehensive, evidence-based framework for assessing and articulating our educational, intellectual, societal, economic, developmental, and reputational contributions. The journey offered valuable strategic insights and enabled a deeper understanding of stakeholder alignment and engagement. It also helped us identify further opportunities to strengthen our institutional impact and strategic priorities, while reinforcing our commitment to responsible and relevant management education. Receiving the BSIS label is a significant recognition of our institutional purpose and the value we strive to create for all our stakeholders.”

About BSIS

The Business School Impact System (BSIS) is the first comprehensive impact assessment tool for business schools, covering more than 130 indicators across seven dimensions of impact. It provides a tailor-made data-collection system for monitoring, assessing, and developing the impact of business schools.

The BSIS review process involves defining the impact zone and institutional scope, collecting data, conducting an impact assessment, and producing a report with recommendations for future development. Demonstrating the school’s impact on internal and external stakeholders, the system serves as a communication and negotiation tool externally and fosters an impact culture within the school. Schools that undergo BSIS are awarded the BSIS Label for a three-year period.

• There are currently more than 100 schools across 30 countries that have received the BSIS label.
• To learn more about the impact assessment system, please visit the BSIS website or contact Julie Comte.

What is it like for schools to undergo the BSIS process? Discover the compelling journey of Blanka Cimcioch, International Accreditations Coordinator at Poznań University of Economics and Business, as she shares her insights on navigating the BSIS process, highlighting the challenges, seizing the opportunities, and reaping the rewarding results it has yielded. Read more.

For additional insights, announcements and perspectives on the BSIS review process, please visit the conversation on the EFMD Business School Impact System (BSIS).