Goa Institute of Management Secures INR 5 Crore Endowment

The Goa Institute of Management has secured INR 5 crore in commitments under its first-ever alumni-led endowment initiative. The announcement was made during the institution’s commemoration of the 100th birth anniversary of its founder, Fr. Romuald D’Souza, marking a significant milestone in GIM’s long-term institutional development strategy. The endowment has been launched with a first-phase target of INR 20 crore and reflects strong participation from GIM’s alumni community, which currently comprises over 7,000 members across sectors.

GIM Endowment Initiative and Long-term Vision

The alumni-led endowment is designed as a sustainable financial and strategic framework to support GIM’s academic priorities, student assistance programmes, and mission-driven initiatives. Institute officials highlighted that the fund will strengthen financial resilience while enabling long-term investments in education quality and leadership development. The launch aligns with the institution’s broader vision of value-based education, innovation, and social responsibility, principles that have guided GIM since its inception.

Leadership Remarks on Institutional Values

Speaking at the event, Prof. Ajit Parulekar, Director of GIM, said that the endowment reflects the institute’s continued commitment to its founding values. He noted that Fr. Romuald D’Souza’s emphasis on excellence and responsible leadership continues to shape GIM’s academic culture and daily operations. Ashank Desai, Chairman of the Board of Governors at GIM, also reflected on the institute’s journey, acknowledging the founder’s foresight in establishing an institution grounded in values, vitality, and national contribution. He emphasised GIM’s consistent focus on excellence, innovation, and nation-building.

Distinguished Speakers Highlight Role of Institutions

Before outlining the broader implications of the initiative, speakers at the event underlined the importance of responsible leadership in higher education. Pusapati Ashok Gajapathi Raju, Governor of Goa, described GIM as an institution rooted in responsibility, sustainability, and empathy. He stated that leadership should be measured by impact on society and moral courage rather than positions held. During the keynote address, Dr. Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission of India, praised the alumni-led funding model. He observed that institutions face increasing challenges from geopolitical uncertainty, climate change, and technological disruption, and noted that institutes like GIM play a critical role in preparing future-ready leaders.