Gurgaon: Management Development Institute (MDI), one of India's premier B-school, signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd. (IOCL) to engage in constructive partnership in the area of training and development.

The MoU was signed by Dr. B.S. Sahay, Director, MDI, and Mr. V.C. Agrawal, Director (HR), IOCL. Prof. Ashok Kapoor, Dean (Continuing Education & Consultancy), Prof. Atmanand, Dean (Executive Education Programmes), and Dr. M.P. Jaiswal, Dean (Research) from MDI and Mr. K.K. Gupta, Executive Director, IIPM from IOCL were also present on the occasion.

The agreement envisages utilizing the excellent intellectual resource and infrastructure of MDI to facilitate IOCL in its various areas of talent and organization development.

Some of the areas identified are:

(1) Management Development Programmes (MDPs) for competency development at four levels - Board level director's programmes, Advanced Management Programmes for Leadership Development, Senior Management Programmes, and MDPs for the middle level;

(2) Consultancy: MDI faculty will provide expertise to IOCL in dealing with various challenges faced by it in the form of consultancy projects;

(3) IOCL will nominate its executives to the various long duration educational programmes like FPM, Executive MBA (NMP, Energy Management, Public Policy & Management and Part-time MBA);

(4) Research, Conferences and Case Writing: MDI and IOCL would also jointly work in the areas of research, conferences on topical themes, case studies and case competitions; and

(5) IOCL would participate in the final placements for employing students graduating in various programmes and may also provide summer internship to MDI students.

The MOU has been signed for an initial period of five years, which will be reviewed for further extension.

Speaking on the occasion Dr. Sahay expressed MDI's keen interest in collaborating with IOCL not only in MDPs, but also in the areas of academic programmes, research, consultancy and conferences.

Mr. Agrawal was of the view that the present agreement would further strengthen the relationship between IOCL and MDI, which started long time back with IOCL officials attending programmes at MDI and also extending faculty support to MDI.

This would be a mutually beneficial arrangement as IOCL undoubtedly holds a prestigious position in the corporate sector ranked 103 among companies in Fortune 'Global 500' list and MDI ranked among the top five B-schools in India.