Explaining the reasons behind the expansion, Program Chair Dr Kamal Jain said, "We are opening up FPM enrolment in view of recommendations in the RC Bhargava Committee report on the IIMs, according to which the reason for shortage of qualified faculty in the IIM is low number of PhDs in the market."

"We now also have three different routes of admission into FPM. Through the Common Admissions Test (CAT), the Research Aptitude Test (RAT) and direct shortlist for lecturers with a minimum of 3 years full-time teaching experience in a business school or university on the date of joining the programme," Dr Jain added.

Started in 2005, the FPM program at IIM Indore had an yearly intake of 3-4 students. "In the first and second year, we pay a stipend of Rs 15,000 and then in the third and fourth years, we pay them Rs 20,000 in stipend," he added.

The last date to apply to the FPM programme to IIM Indore is February 28, 2009.

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