On 21st August 1969, under the aegis of the University of Indore a College of Business Management was established to function as the management education wing of the University. It was named as deptt of Business Management in 1974 and was granted the status of Institute of Management Studies in 1988. It shares the responsibility of fulfilling the mission of education, research and training in all disciplines of Management. IMS is one of the top-ranking Management Institutes in India.
The Institute has highly qualified and dedicated faculty members and is supported by distinguished visiting and guest faculty from the corporate world. It has developed a strong industry-linkage that has continuously provided unstinted support and co-operation in the form of enrichment of curriculum, trainings and placements. I.M.S. is a part of Centre for excellence in e-Management of D.A.V.V .
IMS had a collaboration with the Tulane University , New Orleans, USA. for its MBA(Hospital Administration) programmes. The Institute had been a part of an USAID funded Consortium for teaching, training and research, in Hospital Administration. It also had an academic collaboration with the National Institute of Urban Affairs , New Delhi for training purposes. The Institute has formed a consortium with Vinod Gupta Charitable Foundation, New Delhi and Social Work Academy for Research and Action Jaipur, Rajasthan (SWARAJ) for academic purposes.It has a Collaboration with National Civil Defence College, Nagpur
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