The IIMs (Indian Institutes of Management) are a group of 19 public, autonomous institutes of management education and research in India. The establishment of IIMs was initiated by Jawaharlal Nehru, the first Prime Minister of India, based on the recommendation of the Planning Commission.
IIMs are registered as societies under the Indian Societies Registration Act. Each IIM is autonomous and exercises independent control over its day-to-day operations. However, the administration of all IIMs and the overall strategy of IIMs is overseen by the IIM council. The IIM Council is headed by India's Minister of Human Resource Development and consists of the chairpersons and directors of all IIMs and senior officials from the Ministry of Human Resource Development of the Government of India. Business schools are colleges or institutes, which are conducting courses on business administration and management. These are either autonomous or would have affiliated to a university. The prominence of a business school is purely based on the quality of education, faculty, campus placement facility etc. The top business schools in the country such as IIMs and ISB are always making headlines with campus placement and salary offers. This clearly shows that importance of excellence in education and faculty of business schools.