IRM India Affiliate sets up global ERM centre at Chitkara University, tapping into Punjab’s entrepreneurial spirit

In a significant step towards strengthening India’s resilience and global competitiveness, the Institute of Risk Management (IRM) India Affiliate has established its third Global Centre for Enterprise Risk Management (ERM) at Chitkara University, Punjab. This development marks a key milestone for North India, positioning the region as an emerging hub for enterprise risk education, research, and thought leadership.

The centre was formally inaugurated by Rajeev Tanna, CFIRM & Chairman of IRM India Regional Group. Sandip Datta, Ex-Chief Risk Officer, ITC Limited; Dr Ashok Chitkara, Chancellor, Chitkara University; Dr Sandhir Sharma, Vice Chancellor, Chitkara University; Hersh Shah, CEO, IRM India Affiliate; and other distinguished leaders from academia, industry, and governance were also present. The inauguration ceremony reflected a shared commitment to building future-ready institutions that integrate global frameworks with India’s evolving risk landscape.

Shailesh Haribhakti, Governance Board Member, IRM India Affiliate, joined the inauguration virtually, and shared his perspective on the growing importance of governance, resilience, and enterprise risk management in today’s dynamic environment.

Punjab, long recognised for its entrepreneurial energy, leadership ethos, and global outlook, provides a compelling backdrop for such an initiative. The establishment of this centre aligns with the state’s legacy of enterprise and its growing role in shaping modern education and innovation ecosystems. By bringing global standards of enterprise risk management into the academic environment, the initiative seeks to equip students and professionals with the ability to navigate complexity, uncertainty, and rapid change.

The Global Centre for ERM at Chitkara University is envisioned as more than a physical facility. It represents a dynamic ecosystem designed to foster risk intelligence as a core leadership capability. Through access to IRM’s globally recognised ERM qualifications, academic resources, and industry-led insights, the centre will enable learners to develop a structured understanding of risk across domains such as finance, technology, operations, governance, and sustainability.

As global economies continue to face interconnected challenges ranging from geopolitical shifts and cyber threats to climate risks and financial volatility, the importance of enterprise risk management has become more pronounced than ever. The centre aims to bridge the gap between theory and practice by creating opportunities for research, dialogue, and collaboration between academia and industry, nurturing a new generation of professionals who can anticipate, assess, and respond to complex risks.

The initiative also reinforces IRM India Affiliate’s broader vision of building a risk-intelligent and resilient India. With a presence across 140+ countries, IRM brings a legacy of over four decades in advancing enterprise risk management globally. Its collaboration with Chitkara University reflects a strategic effort to embed these global standards within India’s higher education ecosystem, ensuring that students are equipped with internationally relevant skills and perspectives.

Dr. Madhu Chitkara, President & Co-founder, Chitkara University, said, “Risk management has become increasingly important as organizations navigate a complex and uncertain global environment. At Chitkara, we believe that risk awareness and strategic decision-making are critical competencies for future business leaders, and this Centre of Excellence will play an important role in nurturing those capabilities.”

Hersh Shah, CEO, IRM India Affiliate, added: “Risk intelligence is no longer a specialist capability; it is a leadership imperative for every institution, enterprise, and economy seeking to thrive amid uncertainty.”

Shah said the launch of IRM India Affiliate’s Global Centre for Enterprise Risk Management at Chitkara University marks an important step in embedding globally benchmarked ERM education within India’s higher education ecosystem. “Through this centre, we aim to empower students and professionals with the mindset, frameworks, and confidence to anticipate disruption, make informed decisions, and contribute to India’s emergence as a more resilient, future-ready, and globally competitive economy,” he said.

Rajeev Tanna, CFIRM and Chairman of IRM India Regional Group, remarked, that as organisations navigate an increasingly interconnected risk landscape, the need for risk intelligence and risk resilience becomes central to leadership, innovation, and sustainable growth. “This centre at Chitkara University will help strengthen regional capacity for risk education, industry collaboration, and practical knowledge-sharing, while creating pathways for students and professionals to engage with globally relevant ERM practices, relevant decision support tools and digital technologies.”

Strategically located in Punjab, the centre is expected to play a pivotal role in strengthening regional capacity for risk education and professional development. It will contribute to industry-academia engagement, encourage risk-aware entrepreneurship, and support policy-oriented thinking in areas of governance and resilience. The initiative is also aligned with India’s broader aspirations of becoming a globally competitive, innovation-driven economy.