Union Cabinet approved bill amending the IIM Act to include the National Institute of Industrial Engineering (NITIE) in Mumbai as the 21st IIM. Ahead of the Monsoon session of Parliament, the Prime Minister Narendra Modi-led Union cabinet met to approve three bills. One of the bills was upgradation of NITIE Mumbai into 21st IIM. The proposed bill is likely to be introduced in the forthcoming monsoon session of Parliament. The session is scheduled from July 20 till August 11, 2023.