The NIBS course was conceptualized in 1998 keeping in mind the unfortunate fact that education in India till then had still remained primarily oriented towards the needs of the private sector and had overlooked the specific requirements of the public sector. they had even failed to do justice to the private sector in as much as we had not succeeded in impressing upon the students the basic framework within which the private sector had to operate in their country. The scope and role of the private sector in their country, in the context of national economic planning, was quite distinct from that of the private sector in the free market economies originally developed through colonial exploitation.