Alumni of the IIMs have taken the initiative to set up the Fostiima Business School since the Indian Institutes of Management are unable to meet the growing demand for managers of the expanding Indian economy. FBS aims to identify talent and develop therein leadership skills to create a pool of managers for the new emerging India. FBS shall have Postgraduate and Undergraduate courses in Management with various specializations. The school is located in a modern, spacious; purpose built building in the very heart of south Delhi in South Extension. Apart from its own vigorous skill-intensive curriculum focused on unique needs of specific industry segments, a UGC recognized degree from an approved University shall also be awarded on passing the examinations. FBS is a constituent unit of the Sri Balaji Human Resource Development Trust – promoted by alumni of the Indian Institute of Management at Ahmedabad of the PGP 71-73 class with Jaithirth Rao, Chairman of Mphasis BFL Ltd, and E & Y entrepreneur of the year as Chairperson of the Trust.