New Delhi: The establishment of an IIM in Assam will enhance education infrastructure and attract students as well as researchers from across India, Prime Minister Narendra Modi said on Wednesday after Parliament approved a Bill to this effect.

The country's 22nd Indian Institute of Management (IIM) is set to be established in Guwahati with an investment of ₹555 crore, as Parliament cleared the Bill.

Education Minister Dharmendra Pradhan said the new institution will start admitting students from the current academic year itself.

In a post on X, Modi congratulated the people of Assam and lauded the development.