Come September, 80 second-year students of the Indian Institute of Management, Calcutta (IIM-C), will head to various countries across the globe. This, however, is no vacation.

The Joka campus has received a record number of scholarships, worth Rs 6 million, for its Student Exchange Programme (Step), resulting in a 50 per cent increase in the number of students participating in the programme.

“The number of choices available has resulted in the increase in participation. Students realise that education in a foreign university will open more avenues for them,” said Gaurav Goyal, a Step representative at IIM-C.

The B-school received 46 scholarships this year (34 more than last year) from universities and foreign embassies, including 32 from the French Embassy and DAAD (German Academic Exchange Programme).

US universities like University of Colorado and City University of New York, as also Copenhagen Business School, are also providing scholarships.

IIM-C provides financial assistance of around Rs 30,000 to students who have not qualified for these scholarships. They can also avail of educational loans from banks.

“The institute helps with airfare discounts, visa assistance and travel insurance. Language classes are also arranged for the students,” said Goyal.

IIM-C will play host to exchange students from Simmons School (Boston), Instituto de Empresa (Madrid), UCLA Andersen School of Management (Los Angeles), Universitá Commerciale Luigi Bocconi (Milano), National University of Singapore and ESCP-EAP (Paris) in September.