IIMA was established in 1961 founded by a industrialist and philanthropist Shri Kasturbhai Lalbhai, space scientist Dr. Vikram Sarabhai & Chief Minister of Gujarat, Dr. Jivraj MehtaTo provide the groundwork for the Institute, this group skillfully brought together a coalition of five parties, including the federal and state governments, local businesspeople, the Ford Foundation, and the Harvard Business School. The IIMA Society established a Board of Governors to oversee the Institute. The Board would include members from each key constituency in order to adequately represent the diverse demands of a growing country. IIM Ahmedabad is known for its flagship PGP (MBA) program that ranks 1st in India (NIRF), IIMA was the country's first management school to receive EQUIS (European Quality Improvement System) accreditation from the EFMD (European Foundation for Management Development).
