Dr Sujit K Basu, director of Gurgaon based Management Development Institute (MDI), took over the reins seven months back. After spending months studying the evolution, the journey and the current strengths of MDI, Dr Basu is now clear on the way ahead. In a detailed interaction with MBAUniverse.com, he says his mission is to make MDI a truly global institute that can attract students and faculty from any and every part of the world.

How do you see the journey of MDI since its inception?

MDI was started in 1973, as a training institute to train people connected with Industrial Finance Corporation of India (IFCI). With the introduction of an MBA equivalent program, MDI became a business school in 1994. The jounrney has been fulfilling. MDI is the first and only institute in India to be accredited by UK based accreditation body AMBA.

What is heartening is that we have earned this excellence ourselves: we are a self-funded institute we do not receive any funds from the government. This is a private institute run by a Board of Governors. My focus here is to improving the quality of programs andearch, gaining international recognition, creating intellectual wealth, and attracting top quality resources.

We believe that MDI is also pursuing AACSB and EQUIS accreditation. What is the development there?

Yes, we are pursuing both Associations to Advance Collegiate Schools of Business (AACSB) and European Quality Improvement System (EQUIS) accreditations. We have already cleared the first phase of evaluation and now we are in the second phase where teams will come to have a look at our infrastructure, processes and people. We are hopeful and confident that both these accreditation will come through in the near future.

How does accreditation help the institute and its stakeholders?

Accreditation is a process of voluntary review of educational institutions and programs. It is a kind of certificate or recognition for the institute, which certifies its standards on global benchmarks. Such kind of accreditation provides assurance to stakeholders that this accredited business school meets its standards.

What is the positioning of MDI? What are the initiatives you are planning to this forward?

MDI’s mission is to become a truly global B-school. On this, we have made good progress in the past and my effort so far is to consolidate the growth.

Going forward, we are thinking of new initiatives in terms of teaming up with top of the line global B-schools, which will help us in our identity. But these partnerships will be aimed at make a qualitative difference, not just to increase the numbers of partners.

We have recently started the Post Graduate Program in International Management (PGP-IM) in collaboration with the European School of Management (ESCP-EAP), France. This dual degree program is delivered partly in India by MDI and partly in Europe at the ESCP-EAP campuses. After the stint at MDI, graduates have the option to spend about 10 months in Paris or London where they get exposed to classroom teaching as well as least 4-6 months working through the internship route.

Earlier you said that you want MDI to be a global institution. What is your definition of a global institute?

A global institute is one that has the capability to attract students and faculty from any and every part of the world. It should have global recognition and appeal. In the management education domain, where are we lacking? How is MDI working on this?

The quality of research emerging from the Indian management schools should improve. While understanding the Indian context is important, we should also focus on international research. It is important for expansion of horizons.

Indian companies are going global and this trend will only increase. Indian academic institutions must provide better understanding of this globalization process – and how Indian companies can compete.

Are there any expansion plans?

Yes, we are planning to extend our roots in both India and abroad because, over the next five years, students’ intake at MDI will increase with the institute planning to double the intake for its flagship Post Graduate Program in Management. So, we need to accommodate around 700 students. We can only accommodate half that number in our current location.

We are planning a campus in Doha, Qatar, in terms of international expansion. Middle East is a good market for expansion. We are in talks with the government there, and are likely to finalize the plans very soon. To start with, we will offer short-term programs but eventually our aim is to offer the three year MBA program.

International schools have strong bonds with their alumni. What plans does MDI have to engage with the alumni?

This year, we have initiated new alumni chapters in Bangalore and Mumbai. Recently, we organized a regional alumni meet. This will increase the base of active alumni. We are also working to start a refresher program for our alumni, where we will to update them about latest technology and developments in managements.

I feel that alumni and their employers need to contribute more to the institution building. Their support is important for MDI’s future expansions.