The Indira Gandhi Institute of Development Research (IGIDR) is an advanced research institute established by the Reserve Bank of India for carrying out research on development issues from a multi-disciplinary point of views. After its registration as an autonomous society on November 14, 1986, and as a public trust on January 15, 1987, then Prime Minister, Shri Rajiv Gandhi inaugurated the campus at Goregaon on December 28, 1987. Subsequently, the Institute was recognized as a Deemed University under Section 3 of the UGC Act and it has the highest National Assessment and Accreditation Council (NAAC) rating of A++ (under the old methodology) given to Indian academic institutions. At present, the Institute has about 120 employees and M.Phil/ Ph.D. students that include about 30 full-time faculty members, 24 non-academic staff, and about 60 M.Phil/Ph.D. students.
Starting as a pure research institution, the Institute quickly developed into a full-fledged teaching cum research organization when in 1990 it launched a Ph.D. program in the field of development studies. The objective of the Ph.D. programme is to produce analysts with diverse disciplinary background who can address issues of economics, energy and environment policies. In 1995 an M. Phil programme was also started. The institute is fully funded by the Reserve Bank of India.