- IMDR was established in 1974 as a constituent unit of the Deccan Education Society
- It took over the MBA programme of the MBA Centre of the University of Pune and the DBM programme, run in the BMCC (a sister institution) since 1968
- Affiliated to the University of Pune, the IMDR was also a recognised centre for research leading to Ph D. In 1977, the IMDR became an autonomous institution by voluntarily delinking from the University of Pune
- Since then it has carried on its activities, independent of the University or other statutory bodies
- In 2011, IMDR got approval from All India Council for Technical Education (AICTE) New Delhi and recognition from Directorate of Technical Education, Maharashtra
- IMDR is committed to provide quality management education to students
