The Ministry of Corporate Affairs has announced plans for setting up an Indian Insitute of Corporate Affairs (IICA) near Delhi. The new institution, coming up at Manesar at an estimated cost of Rs 211 crore, is envisaged as a partnership project with IIT Kharagpur,  Anurag Goel secretary of ministry of corporate affairs said.

Speaking at the diamond jubilee celebration functions of Institue of Chartered Accountants of India (ICAI) here today, Goel said the new institution will function as a think tank for the ministry of corporate affairs. "It will have five centres including centre for knowledge investors, education centre and professional development centre", he said.

IICA board will consist of 10 - 15 government nominees and the rest from professional institutes and corporate houses.