IMI Kolkata will offer limited number of scholarships based on merit. For the first two years, they will be provided with scholarships amounting to INR 20,000 per month. Scholarships for the third and the fourth year will be INR 25,000 per month.

The IMI Kolkata Scholarship holders are also eligible to get liberal grant for buying books, called contingency grant up to a maximum of INR 25,000 per annum, as per norms. It is to be noted that the tuition fees for IMI Scholarship holders may be waived off. However, the candidates applying to the residential programme will have to incur hostel and mess charges separately.

Self-sponsored candidates and candidates with scholarships from other funding agencies (viz. UGC, ICSSR, etc.) are also encouraged to apply.