Management Development Institute (MDI) is one of the premier business schools in India. It was established in 1973 and is located in Gurgaon, a commercial hub near the Indian capital of New Delhi. Its second campus has come up near Murshidabad,West Bengal. It was inaugurated by Honourable President of India, Shri Pranab Mukherjee on 24 August 2014. Management Development Institute was formed as an autonomous body in 1973, in collaboration with several global institutions like UNDP, UNIDO, World Bank and ILO, with an initial grant received from KfW, West Germany, and with the active support of Industrial Finance Corporation of India (IFCI). T. N. Kapoor was the first Director. The Post Graduate Programme in Management (PGPM) was started in 1994.