The Institute of Cost Accountants of India (ICMAI) and the Indian Institute of Management (IIM) Jammu signed a Memorandum of Understanding (MoU) recently. The agreement is a major accomplishment to enhance excellence in management studies, research, training, and professional development, according to a statement given to the media. "The MoU signing ceremony was witnessed by Prof. B.S. Sahay, Director, IIM Jammu; CMA Navneet Kumar Jain, Council Member, ICMAI; and CMA Dr. Debaprosanna Nandy, Secretary (Officiating), ICMAI, Rajesh Talwar, Director Finance, Department of Law, Justice and Parliamentary Affairs, Govt. of Jammu and Kashmir."
"Cmdr. Kesavan Baskkaran (R), Chief Administrative Officer (CAO) IIM Jammu, and CMA Dr. Debaprosanna Nandy, Officiating Secretary, ICMAI, signed the MoU in a formal ceremony today in the presence of high-level IIM Jammu and ICMAI officials," it added. Members of senior faculty of IIM Jammu were also present. "The MoU creates a framework of collaboration between the two flagships to enable them to work together to develop and deliver Management Development Programmes (MDPs), Specialized Training Programmes, Executive Education, and Faculty Development Programmes."
"It also provides opportunities for sharing knowledge in the form of collaborative research, co-sponsored seminars, conferences, workshops, curriculum development, and sharing of facilities for academic purposes," the release added further. Prof. B.S. Sahay, Director, IIM Jammu, reiterated that the MoU with Institute of Cost Accountants of India marks IIM Jammu's bigger vision of building an ecosystem of academic excellence, research-based innovation, and effective executive education.
He said that the collaboration would not only strengthen the research and study relationship between the two institutions but also give the space to train professionals and leaders with the right knowledge, values, and abilities to meet the new requirements of an evolving economy. "He also stated that operations under this MoU will bear long-term fruits for students, industry professionals, and society in general.". CMA Navneet Kumar Jain, ICMAI Council Member, said that the MoU is a strategic step towards professional education and future-proof talent development in cost and management accounting," the release added.
He also mentioned that through sharing of educational material, research outcomes, and specialized training processes, the tie-up would facilitate bridging crucial skill gaps in the profession. He also emphasized that the alliance would make professionals competitive in the face of a dynamic business environment, improve productivity and innovation in industrial practice, and confirm a culture of learning and growth across industries. Prof. Jabir Ali, Dean, Faculty and Research, IIM Jammu, noted that the alliance would improve the research culture of the Institute, improve curriculum designing, and explore new areas of innovation.
He emphasized that they play a significant role in ensuring academic learning is congruent with practice in industry and thereby graduating students well prepared to function effectively in society and organizations. The MoU shall facilitate collaborative efforts in areas of mutual interest, including research initiatives, faculty exchange, and sharing of common academic infrastructure. "This partnership is an expression of the vision of IIM Jammu as an international-level management school and ICMAI as the statutory organization tasked with developing and governing the cost accountancy profession in India," the release added.
