Initiated by programme chairperson Prof. Ravindra Gokhale, the conclave featured keynote addresses by Kaushalya Gaonkar, Managing Director, Knorr-Bremse, and Prof. Bob Doherty, University of York, along with two industry panels.

The first panel, “From Dark Stores to Global Shop Floors,” examined how organisations can balance speed, cost, resilience and sustainability while preparing supply chains for future disruptions. Speakers also discussed hybrid manufacturing models, demand sensing and lessons that traditional manufacturing can draw from quick-commerce fulfilment. The second panel, “Supply Chains 5.0: AI, Governance & Global Trade,” focused on the responsible adoption of artificial intelligence, data-driven decision-making and India’s potential to benefit from global supply-chain diversification. The panel emphasised that AI adoption must be supported by reliable data, clear accountability and human oversight.

Addressing the gathering, Prof. Manoj K. Tiwari, Director, IIM Mumbai urged students and future leaders to contribute actively to the India @ 2047 vision by combining technological capability with responsible leadership. Faculty members, including Prof. Binilkumar, A. S., Chairperson of Executive PG Programmes, Prof. Ranjni K.S., Chair of Weekend MBA and Prof. Rauf Iqbal, Associate Professor, highlighted the importance of the VLFM programme in developing professionals capable of bridging operational expertise with strategic leadership.

“India @ 2047 calls on our future leaders to turn technological progress into trusted, practical transformation. Our students must pair innovation with responsibility and contribute to a stronger, more resilient and globally competitive India,” Prof. Tiwari said.

As the programme chair who initiated ABHYUDAY, Prof. Gokhale closed the event with an inspiring keynote on the VLFM programme. He commended the Business Conclave Committee for its efforts in organising the event and highlighted the conclave’s role as a platform for meaningful dialogue and collaboration among industry, academia and the VLFM cohort.

“ABHYUDAY 2026 has brought together valuable perspectives from industry, academia and the VLFM cohort. I commend the Business Conclave Committee for its excellent execution and hope ABHYUDAY continues to grow as a platform for meaningful dialogue and collaboration,” said Prof. Ravindra Gokhale.

uddhared ātmanātmānaṁ nātmānam avasādayet

ātmaiva hyātmano bandhur ātmaiva ripur ātmanaḥ

— B.G. 6.5—

It is the inner quest of leaders or their learnt consciousness that brought them closer to Indic perspectives. For example, one can understand how Steve Jobs was associated with Paramhansa Yogananda’s Autobiography of a Yogi. Successful Indian business leaders such as Ajay Piramal, Mukesh Ambani, and G.M. Rao have been influenced by the Bhagavad Gita. Ray Dalio and Marc Benioff align themselves with meditation, self-awareness and equanimity. One can see the influence of Indic perspectives in the work of Psychologists such as Carl Jung. His ideas resonated deeply with the Upanishads and Indian philosophy, paving the way for explorations of the Self, consciousness, and individuation.

Modern interpreters like Swami Vivekananda, Aurobindo, and Thengadi shaped Indic perspectives, which contemporary thinkers like Gurumurthy, Mahadevan, Dhiman and Balasubramaniam extended to contemporary leadership and management.

It is typical human tenacity to learn everything possible on earth. Be competitive, understand the world, lead others, lead people, processes, and organizations, earn money, control the quality of what we do, and whatnot. In management education, we teach learners to understand markets, manage organizations, lead teams, handle competition, and make decisions in difficult situations. What we procrastinate on is diving in and seeing what’s held inside. In these situations, we unconsciously forget an important question: how well does the person making these decisions truly understand themselves? In his book Inner Charioteer, Balasubramaniam argues that humans tend to rush to manage and lead others without first learning how to govern ourselves. We are the prisoners of our thoughts. Unless we overcome them, we cannot unbind ourselves and explore ourselves to the fullest.

Many such lessons contribute to quality control within. Indic Leadership can help us find a conscious call within. Not just learning but implementing its principles in life can help one build consciousness, a self-quality control within. For example, Verse 6.26 of the Bhagavad Gita prescribes self-regulation by one becoming aware of the wandering, restless mind and implementing methods to establish conscious self-control.

Yato yato niścarati manaś cañcalam asthiram |

Tatas tato niyamyaitad ātmany eva vaśaṁ nayet

— B.G. 6.26—

An interesting understanding of this perspective can be drawn from recent research published in the Journal of Organizational Behaviour. Feng and coworkers established not only that mindful leadership helps employees develop social mindfulness, but also that it provides more family social support at home.  For example, Verse 2.48 of the Srimad Bhagavad Gita can help leaders establish conation to develop mindfulness, equanimity, clear judgment and conscious actions.

Yogasthaḥ kuru karmāṇi saṅgaṁ tyaktvā dhanañjaya |

Siddhyasiddhyoḥ samo bhūtvā samatvaṁ yoga ucyate ||   

— B.G. 2.48—

The values and self awareness about own thought process will lead to holistic view and improve decision making which reflects in system and institutional improvements. Our motivation at IIM Mumbai to align with Indic perspectives emerges from these spaces.  In the age of artificial intelligence, these perspectives become even more relevant. Researchers have claimed that artificial intelligence augments intelligence and can complement inner judgment. It is even more indispensable to make human actions conscious than to rely on machine judgments. It is prudent to learn to govern ourselves first before rushing to manage and lead others.

Our perspective at IIM Mumbai is not just to add a course on Indic Leadership, but to explore how India’s knowledge traditions can contribute not only to Viksit Bharat-2047 but also to developing global thinking on leadership and management.

Mumbai, 25^th May, 2026: BMC, the urban local body of Mumbai and IIM Mumbai, an Institution of National Importance under the IIM Act, 2017, today signed a Memorandum of Understanding (MoU) establishing a structured framework for institutional collaboration in the areas of urban governance, research, innovation, and capacity building. The MoU was signed by Smt. Ashwini Bhide, hon. Municipal Commissioner, BMC, and Prof. Manoj Kumar Tiwari, Director, IIM Mumbai, in the presence of Dr. Ashwini Joshi, Additional Municipal Commissioner (City), Shri Abhijit Bangar, Additional Municipal Commissioner (Projects), Dr. Avinash Dhakne, Additional Municipal Commissioner (Eastern Suburbs), Shri. Vinayak Vispute, Deputy Municipal Commissioner (Special), Shri Prashant Gaikwad, DMC (MCO), Smt. Shashi Bala, Chief- Business Development, and Lt Cdr Nisha Singh (Retd), Chief Administrative Officer, IIM Mumbai.

The collaboration seeks to bridge academic rigour with civic action by leveraging IIM Mumbai’s expertise in management, analytics, public policy, and operations to address the complex urban challenges faced by Mumbai, one of the world’s largest and most dynamic metropolitan regions.

Key Areas of Collaboration:

The MoU spans several strategic domains, including:

* Research and Policy Advisory: Joint studies on urban governance, municipal finance, infrastructure planning, and public administration, leading to policy briefs and advisory inputs for BMC.

* Data Analytics and Smart Governance: Development of predictive models, operational dashboards, and analytical frameworks to support BMC’s digital transformation and evidence-based decision-making.

* Capacity Building and Executive Education: Customized programmes for BMC officers in areas such as Executive MBA in Urban Management, Geo-Spatial Infrastructure Planning aligned with PM Gati Shakti National Master Plan, PPP Governance and Risk Management, and Public Procurement and Contract Management.

* Operations and Process Improvement: Enhancing efficiency in municipal services including solid waste management, water supply systems, healthcare logistics, and citizen-centric service delivery.

* Sustainability and Climate Resilience: Collaborative projects focused on flood management, climate adaptation, carbon reduction, environmental sustainability, and circular economy practices.

* Public Health Systems: Designing data-driven frameworks for disease surveillance, health systems planning, and public healthcare delivery optimization.

* Student and Academic Engagement: Opportunities for live consulting projects, internships, field immersion, and doctoral research by IIM Mumbai students on BMC-identified urban problem statements.

A major outcome envisaged under the partnership is the establishment of a joint BMC-IIM Mumbai Urban Innovation Lab / Centre of Excellence, which will function as a living laboratory for applied urban innovation using Mumbai as a test-bed for scalable and implementable solutions.

The proposed Urban Innovation Lab will:

* Pilot innovative solutions in mobility, waste management, water systems, and digital governance;

* Facilitate collaboration among students, faculty, startups, civic administrators, and policymakers;

* Generate a continuous pipeline of applied research and implementation-oriented urban solutions; and

* Strengthen Mumbai’s position as a model city for data-driven and sustainable urban governance.

To ensure effective implementation, a Joint Steering Committee (JSC) co-chaired by the Director, IIM Mumbai, and the Municipal Commissioner, BMC, will be constituted within 30 days of signing the MoU. The committee will identify priority projects, monitor progress, and review outcomes on a quarterly basis.

Speaking on the occasion, Ashwini Bhide, Municipal Commissioner, BMC, said: “Mumbai’s scale and complexity require collaborative approaches grounded in knowledge, innovation, and institutional capacity. This partnership with IIM Mumbai will help strengthen evidence-based governance, enhance administrative capabilities, and create sustainable urban solutions tailored to the evolving needs of the city and its citizens.”

Manoj Kumar Tiwari, Director, IIM Mumbai said: “This MoU represents a meaningful convergence of academic excellence and civic leadership. Through this partnership, IIM Mumbai’s faculty, researchers, and students will work closely with BMC to develop innovative, data-driven, and implementable solutions that strengthen urban governance and improve the quality of life for citizens.”

This collaboration is envisioned as a pioneering national model for meaningful engagement between academic institutions and urban local bodies, demonstrating how research-led governance can contribute to more efficient, resilient, and citizen-focused cities.

The inauguration was part of Dr. Singh’s visit to the institute, during which he also addressed a distinguished gathering under IIM Mumbai’s *Leadership Series, themed *“Viksit Bharat: India’s Startup Strides over the Last Decade and the Way Forward.”**

*AIC–NIFIE*, established under the aegis of Atal Innovation Mission, is designed to provide holistic support to innovators and entrepreneurs through incubation, mentorship, industry linkages, and access to research and technology. The centre will work closely with startups in manufacturing, supply chain, sustainability, and digital transformation — sectors critical to India’s economic future.

Speaking at the event, Dr. Singh emphasized the importance of academic institutions like IIM Mumbai in bridging policy, research, and enterprise. “Innovation is the backbone of a developed India. Centres like AIC–NIFIE will be instrumental in translating India’s demographic dividend into tangible economic growth,” he stated.

Director of IIM Mumbai, *Prof. Manoj K. Tiwari, noted, *“The launch of AIC–NIFIE is a step towards building a dynamic innovation ecosystem within the institute. It aligns with our mission to create impact through thought leadership, research, and entrepreneurship.”

With this initiative, IIM Mumbai deepens its commitment to national development through support for startup ecosystems, with launch of 14 startup’s as on date, industry-driven research, and the creation of new knowledge economies.

Shri Shashi Kiran Shetty, Founder & Chairman, Allcargo Group, Chairperson, BoG, IIM Mumbai, shared his enthusiasm for the reappointment of Prof. Manoj Kumar Tiwari as the Director of IIM Mumbai for another five-year term. With his vast experience in both academic and administrative leadership, Prof. Tiwari is set to continue steering the institute towards greater success.

We are thrilled to have Prof. Tiwari continue his leadership at IIM Mumbai,” said Shashi Kiran Shetty. “His proven academic insights and strategic vision have been instrumental in shaping the institute’s growth. With Prof. Tiwari at the helm, we are confident that IIM Mumbai will reach new heights in innovation, research, and education.”

Prof. Manoj Kumar Tiwari, expressed his sincere gratitude  to the Chairperson IIM Mumbai BoG, members of the Board, officials of the Ministry for trust,  support and guidance extended.
Prof. Manoj Kumar Tiwari also extended his gratitude to the faculty, offices, staff, students, and alumni.

Prof. Manoj Kumar Tiwari has served as Founding Director of IIM Mumbai (formerly NITIE) spanning 5 year tenure, and is an eminent academician, and experienced researcher with over three decades of experience spanning industry, research, teaching, and consulting, both in India and internationally, and has served in various academic and administrative capacities at the level of Ministry, AICTE, UGC etc. contributing to the reforms, policy making and its implementation.

To mark Teachers’ Day, Mr. Shashi Kiran Shetty, Chairman, of the Board of Governance, IIM Mumbai, and Founder and Chairman, of Allcargo Group, inaugurated the commencement of the new facilities, underscoring the institute’s commitment to fostering innovation and excellence. Mr. Shetty emphasized the institute’s dedication to providing students with an optimal environment for exploring Artificial Intelligence (AI) and technology.

IIM Mumbai proudly acknowledges the distinguished presence of Dr. Satheesh Reddy, President of the Aeronautical Society of India, Former Secretary of DDRND, Chairman, of DRDO, and Scientific Adviser to Raksha Mantri, who played a significant role in the inauguration of IIM Mumbai’s INR 800 crore campus enhancement project. Dr. Reddy, known for his groundbreaking contributions to India’s defence sector, attended the Bhumi Pujan ceremony, where he laid the foundation stone for the new development phase of the campus. IIM Mumbai is honored to have Dr. Reddy’s support and is excited about the new opportunities this project will create for students and researchers alike. His contribution to the event exemplifies the institute’s commitment to bridging the gap between academia and real-world technological advancements.

Commenting on the occasion, Mr. Shashi Kiran Shetty, Chairman, Board of Governance, IIM Mumbai and Founder and Chairman, Allcargo Group said, “This occasion will go down in the history of IIM Mumbai as a key milestone which marks the journey of this premier institute towards becoming one of the best B-schools in the world. The initiative to upgrade the campus is a part of our goal to develop a 21st-century infrastructure capable of exceeding global standards. Thanks to the prestigious IIM tag and the strategic location of the campus in Mumbai, the institute has started attracting faculty and students across the world. With state-of-the-art infrastructure, excellent faculty, and best-in-class pedagogy, IIM Mumbai will emerge as the best management institute in the world, producing the best in quality leadership and entrepreneurship.”

The forthcoming facilities will include the sprawling net zero campus of the future with world-class residential accommodation for faculty & students, startup ecosystem development, Management Development Programs, and a large auditorium. Additionally, the facility will include an Innovation Center focused on banking, finance, and fintech, an AI-based research hub, and a state-of-the-art library connecting students with global resources. The campus will host a prominent Management Training Center, offering certification courses and serving as a focal point for industry leaders.

Formerly known as NITIE, IIM Mumbai has a strong legacy in industrial and engineering education. Since its transition to an IIM, the institute’s climb to 6^th position this year in national rankings underscores the benefits of this change. Situated in India’s financial hub, IIM Mumbai is a significant development for the mega city.

Prof. Manoj K Tiwari, Director, IIM Mumbai, shared insights into the institute’s future direction, highlighting the introduction of new courses benefitting students and professionals. He also mentioned multiple partnerships with Indian and international communities, aimed at enriching the mission of knowledge sharing and global engagement.

Established in 1963 as NITIE, this institution has become a cornerstone of management education in India. A 65-acre campus surrounded by scenic landscapes with lakes on three sides, the institute hosts more than 1,200 students and is ranked among India’s top B-schools. The leadership of Mr. Shashi Kiran Shetty, Chairman of IIM Mumbai’s Board of Governors, and Prof. Manoj K Tiwari, Director, has been instrumental in advancing Logistics and Supply Chain Management and supporting the PM Gati Shakti National Master Plan. Known for its industry-aligned educational programs, IIM Mumbai contributes to national policies, reflecting the vision of Naya Bharat.

“We are confident that this project will continue to receive strong support from leading companies through their Corporate Social Responsibility (CSR) funds. It is poised to set new benchmarks in educational infrastructure, fully aligning with IIM Mumbai’s vision of becoming a global leader in innovation and sustainable development. This effort underscores the respected role of Indian leadership in driving progress within the country and on the world stage.” Added Mr Shetty.

About – Indian Institute of Management Mumbai (IIM):

Formerly known as NITIE, Indian Institute of Management Mumbai (IIM Mumbai), established by the Government of India in 1963 in the financial capital of the country, has been consistently ranking among the top B-schools in India. With around 1,200 students across various programs, IIM Mumbai is a leader in management education in the country and ranked 6^th in the National Institutional Ranking Framework (NIRF) for 2024 among Management institutes across India. IIM Mumbai is committed to creating skilled professionals in diverse functional areas like Operations Management, Analytics, Finance, Marketing, Project Management, HR, Information Technology, and Sustainability Management. For more information, please visit: https://iimmumbai.ac.in/

“We’re proud to be the premier management institute offering a specialized program in Logistic Supply Chain Management. The future of business starts here!” said Spokesperson’s This rise reflects the institute’s unwavering commitment to academic excellence, innovative research, and strong industry collaboration.
The improvement in rankings highlights the effectiveness of IIM Mumbai’s strategic initiatives aimed at enhancing academic rigor, expanding global partnerships, and fostering a robust learning environment. As IIM Mumbai climbs higher, it reaffirms its reputation as a premier institution, attracting top talent and reinforcing its standing both in India and globally.

Formerly known as NITIE, IIM Mumbai was established by the Government of India in 1963 with assistance from the United Nations Development Programme (UNDP) and the International Labor Organization (ILO). Over the decades, it has consistently been ranked among the top B-schools in India. The institute’s 6th place ranking in NIRF 2024 is a testament to its commitment to producing skilled professionals in diverse functional areas such as Operations Management, Analytics, Finance, Marketing, Project Management, HR, Information Technology, and Sustainability Management.

Located in the financial capital of the country, IIM Mumbai enjoys close ties with leading corporate houses, providing students with the unique advantage of integrating classroom knowledge with practical industry insights. The institute’s picturesque campus, surrounded by lakes and lush greenery, has earned it the nickname “God’s Own Campus.”

With a team of over 60 academicians and approximately 1200 students across various programs, IIM Mumbai continues to lead the way in management education. The institute’s rigorous curriculum and industry-oriented programs prepare students to contribute significantly to nation-building and to emerge as the business leaders of tomorrow.