Sunday, January 15 2006 17:05 Hrs (IST) - World Time -

Ahmedabad: A senior Minister of Singapore, Goh Chok Tong today (Jan 15,2006)said the Indian Government's recent decision to not allow IIM-B to set up campus in Singapore was a 'loss' to India.

Tong, the former Prime Minister of Singapore, who is visiting the Indian Institute of Management-Ahmedabad (IIMA) along with a delegation of about four ministers, told mediapersons, "We are happy to welcome IIM-B in Singapore. But it is for the Indian Government to decide on the matter".

The IIM-B's ambitious plan got a jolt on January 11 when the Human Resource Development Ministry denied permission to the prestigious business school to set up a campus in Singapore and asked it to first cater to the demand at home considering the huge demand-supply gap in IIM seats.

"Singapore is a hub for education and the institute (IIM-B) has a good reputation, so we are happy to welcome the institute'', he said.

"It is their (India's) loss. They could have made some money as well'', he added.