The Jammu and Kashmir Government has proposed to set up the campus of Indian Institute of Management (IIM) at Narkura in Central Kashmir’s Budgam district. The State authorities have identified 800 kanals of state land at Narkura Budgam for establishing the institution in Kashmir. 

J&K Minister for Education Syed Altaf Bukhari has confirmed the development and has told the media that the final call about confirming the site lies with MHRD.

In October 2016, the government of India gave the nod for the establishment of Indian Institute of Management in Jammu and an offshore campus in Kashmir. Establishment of IIM Jammu is one among the development projects of Prime Minister of India, Shri. Narendra Modi. The centre reserved Rs. 1,000 crore for the establishment of IIM Jammu and offshore campus in Kashmir.

During the 2015-16 budget session, Arun Jaitley, Finance Minister of India announced the setting up of AIIMS and IIM Jammu in the state.