Xavier Institute of Management, Bhubaneswar, owes its origin to a "social contract" between the Government of Odisha and the Odisha Jesuit Society in 1987. The school was established under the contract between the Government of Odisha and the Jesuits in Odisha, with Fr. Romuald D'Souza SJ being its founder-director. It is acknowledged internationally as a world class business school that provides quality management education and develops future ready managers with solid ethics and values. XIMB has been part of the exclusive Super League of B-Schools Top-10 in India the highest tier rated by the All India Management Association (AIMA).

The academic programs offered by XIM university follow the global model for management education. It confers MBA and Ph.D. degrees through XIM University. It offers MBA programs in Business Management and Global Management, Executive MBA in Business Management and Business Analytics, and Ph.D. programs through XIM university. The PGDM programs in Rural Management and Human Resource Management, previously offered by XIMB, are now housed under two different schools of XIM University named School of Rural Management(SRM) and School of Human Resource Management. The vision is to be a leading global Jesuit university, innovative in academia, grooming compassionate and resilient leaders to lead organizations for a just, equitable, and sustainable society.