IISWBM was constituted on 25th April 1953 by a resolution passed by the Senate of the University of Calcutta. The meeting of the Senate was presided over by Mr. Justice Rama Prasad Mookherjee. This was the culmination of the joint initiative taken by the University of Calcutta, the Government of West Bengal, the Government of India and the captains of industry to set up for the first time a management education Institute in India, a concept alien to many in the educational fraternity at that time. In the year 2013 Institute completed its Diamond Jubilee signifying 60 years of an eventful journy in management education in India. IISWBM, the first management institute of India was thus established by Dr. B.C. Roy, the then Chief Minister of West Bengal as its Founder -President and Prof. D.K. Sanyal as the first Director. The Government of India, Department of posts in recognition of 50 years of glorious existence of the first B-School in the country, released a Commemorative Postage Stamp on IISWBM, on 25th April 2004 in New delhi. The Institute boasts of state of the art infeastructure, strong faculty based, successful alumni, excellent hostels, rich library and placement records.