With a view to giving a global stature to the country’s prestigious B-schools, Indian Institutes of Management (IIMs) plan to throw open their gates for foreign students.The directors of various IIMs have already discussed the matter informally and it could be taken up at the higher level for a final decision, sources in IIM-Lucknow said here today.

As of now, only Indian students can apply for admission to the IIMs."We are looking into the matter. If it is passed, it may come into effect from next session," Devi Singh, director, IIM-Lucknow, said.

However, if the plan takes shape, it would not cut into the seats of the Indian students, as the number of seats could be increased by 10 per cent to accommodate foreign students, who could have to take a GMAT-type exam for seats in the premier institutes, sources said.

IIMs are also contemplating opening campuses outside the country, and this matter would also be taken up in advanced discussions, sources said.