History of Commerce Discipline
The first Commerce school was established in Chennai in 1886 by Trustees of Pachiyappa’s Charities. Commerce classes started in the Presidency College, Kolkata in 1903.The Sydenham College of Commerce and Economics was established in 1913 as the first institution for higher education in Commerce. Madras became a pioneer state where it started in 1886. In post-Independence period, Commerce education has emerged as one of the most potential pursuits in the wake of industrialization, economic development and techno-managerial revolution. Commerce has grown from a subject to a full -fledged faculty in most of the universities and had acquired a pride of place amongst different academic disciplines. The Government of Madras laid the foundation of commerce education by setting-up commercial institute in Madras. Two other institutions were established during the next ten years (by 1896). One was set-up at Calicut and the other in the state of Kerala.
In the beginning of this century Calcutta Presidency College also introduced the teaching of commerce (1903). By about that time it was also introduced in Delhi. One more commercial institution was started in Bombay in 1912. At the graduate level the commerce education was introduced in 1913 in Sydenham College of Commerce and Economics in Bombay.
In 1920's (1921-22) the first Fiscal Commission was set-up and this commission made certain important recommendations In the light of these recommendations some major improvements were visible in various industrial fields especially in the field of iron and steel industry, sugar industry, tea industry, cotton industry and jute industry.
A very rapid growth of commercial educational institutions was observed during 1920-40. The Indian Institute of Bankers was established in 1926, the Institute of Chartered Accountants of India was established in 1934. Later on in 1944, Institute of Works and Cost Accountants of India was established. In 1955, the Federation of Insurance Institutes was established.
To cope with the increasing demand for the trained people to transact commercial and governmental jobs, it became essential to introduce the commerce education at school level.
To start with the teaching of short-hand and typing was introduced in Government schools and aided schools and afterwards the teaching of commerce was introduced in such schools. Now the commerce education has been included in the school curriculum.
In the new scheme of education (I.C. 10+2+3 pattern of education) sufficient attention has been paid to commerce education in Indian schools.
Recent Developments in the Commerce Discipline in India
India has one of the largest higher education systems in the world, and has been witnessing healthy growth in its number of institutions and enrollment in the last few decades.
Indian School of Business (ISB) Established in 2001, ISB is a not-for-profit, independent management institution .It is ranked among the top 20 global business schools in the 2012 Annual MBA Rankings of the Financial Times in London.
It offers postgraduate, fellowship, post-doctoral and executive education programmesin management.ISB’s flagship programme, PGPM, had 770 student in 2012. Highlights ISB leads in terms of the author count of Indian faculty in the Financial Times’ list of top 40 management journals for the period 1990–2009.
ISB: 11 IIM Calcutta: 10 IIM Bangalore: 9IIT-Delhi: 5XLRI: 4 has achieved this in a relatively short period of time.
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Higher Education in India: Twelfth Five Year Plan (2012–2017) and beyond FICCI Higher Education Summit 2012