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Jakarta: In a major development, Prime Minister Narendra Modi on Tuesday announced that IIM Bangalore will establish an overseas campus in Indonesia. The proposed campus is expected to benefit students across the ASEAN region.

Stating the issue, the institute quoted PM Modi and said, “We are going to establish a campus of India’s prestigious management institute, IIM Bangalore, in Indonesia, which will greatly benefit the youth across the entire ASEAN region.”

The institute further said that with this announcement, made during a joint press statement with Indonesian President Prabowo Subianto in Jakarta on July 7, PM Modi announced a landmark chapter in IIM Bangalore’s engagement across the globe. It added that the decision showcased another example of the growing strategic partnership between India and Indonesia.

Speaking after he met with Indonesian leaders, the PM said that two nations signed an agreement to bolster technological cooperation in areas like artificial intelligence, telecommunications and Digital Public Infrastructure, apart from collaboration between startup ecosystems, news agency PTI reported.

As per the institute, its campus in Indonesia is a major step towards educational collaboration between India and Indonesia. The announcement was made a day after an agreement was signed between IIM Bangalore and the Singhasari Special Economic Zone (SEZ), where the campus would come into being.

Notably, IIM-Bengaluru would start with short-duration executive education programs (EEPs) in Phase 1. It would be followed by the degree-granting programmes in the next phase. As per Professor U Dinesh Kumar, the partnership would help in creating significant impacts

Professor Desai said during the signing event as per PTI, “With our significant strength in management education and research, IIMB is well positioned to deliver high-quality, high-reputation management programs and make Indonesia a global hub in business education”.

“We believe that this program will lead to significantly improved employment opportunities for Indonesian citizens and expatriates alike and push the envelope in making the Global South region the preferred destination for both quality education and business leadership,” he further said.