The Government of India, in a decision taken by the Union (Federal) Cabinet of Ministers, has recently decided to approve the opening of a seventh IIM at Shillong, the capital of the north-eastern state of Meghalaya. The Institute is proposed to be named as Rajiv Gandhi Indian Institute of Management, Shillong. This new IIM will start operations in year 2008 and will be having admissions through CAT 2007. The GOI press release:

It has been decided to establish a new Indian Institute of Management (IIM) for the North East Region at Shillong. This institution would help in setting the highest standards of management education in the region. A detailed project report for establishing a full fledged campus is under preparation. The IIM would start its academic operations soon.

Future IIMs
The 11th five year plan of India proposed 7 new IIMs by the end of 2012. Of these, the government has announced plans to establish 6. These IIMs will come up in the states of Jammu and Kashmir, Tamil Nadu, Jharkhand, Chhattisgarh (IIM Raipur), Uttarakhand and Haryana

Addmission

The CAT (Common Admission Test) conducted by the IIMs is a very competitive test conducted for admission to around 1250 graduate programs in management at the six campuses, and is usually considered one of the most competitive exams in the world[citation needed], with a supposed success rate of about one in two hundred[3]. Each institute conducts group discussions and personal interviews to evaluate the students shortlisted after the test.

Some claim that since around 300,000 students compete for less than 1350 general seats (out of 1700 total seats) in the IIMs (2008 figures), IIMs are even more selective than all the top US business schools put together[citation needed]. The remaining 23% of seats are reserved for candidates belonging to Scheduled Castes and Tribes and PWD. The average percentile of students admitted through these reserved categories is lesser than the percentile scores of the General class students, which generally hovers around 99 percentile