Guwahati, Aug. 13 -- The Union Cabinet on Tuesday cleared a bill to establish an Indian Institute of Management (IIM) in Assam's Guwahati, marking it as the second IIM in the North East after Shillong and the 22nd in the country.

Senior government officials confirmed that the Centre has allocated over Rs 500 crore for the project. The new IIM is expected to strengthen Guwahati's status as a growing education hub, which already hosts top institutions such as IIT Guwahati, the National Law University and Judicial Academy, and AIIMS at Changsari.

Officials said the upcoming IIM will address a long-standing gap in management education in the North East by offering high-quality academic programmes and research opportunities to students natio...