Fellow Programme in Management (FPM) is recognized as equivalent to PhD by the All India Council for Technical Education (AICTE). Ref No.F.41-38/B-II/BOS (M)/92-AICTE/6319). The difference between a PhD and FPM is similar to the distinction between an MBA and PGDM. FPM grooms promising young researchers to be innovative problem-solvers and thinkers in the business disciplines of Accounting, Financial Economics, Information Systems, Marketing, Operations Management, Organisational Behaviour and general management areas. The programme is committed to train individuals who will excel in their area of research through publication quality work of international standard.
While IIMs, XLRI, MDI, ISB NITIE and other stand-alone institutes offer a fellow programme in management (FPM), universities and the IITs offer a PhD in Management.
There are also other specialized institutions like the National School of Leadership, who offer Fellow Programmes in subjects like Leadership, Strategy, Psychology, Technology and Education.