In the year 1964, a high-level group appointed by the Government of India under the Chairmanship of late Prof. D.R.Gadgil to assess the training needs of the cooperative sector recommended the setting up of a National Institute. This Institute was envisaged to undertake the training of senior personnel in the co-operative institutions/departments, conduct fundamental/applied research and provide consultancy services, organize courses in business management for senior personnel in cooperative business organizations and train the youth on various facets of Management. Central Institute of Management for Consumer's Business (CIMCOB) was merged with the National Cooperative College and Research Institute (NCCRI) to form the present National Institute. As a tribute to the doyen of the Cooperative Movement late Shri Vaikunth Mehta, in 1967, the National Institute was named after him, as Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM).
VAMNICOM has seven Centres, viz. Centre for Cooperative Management, (CCM), Centre for Management Education (CME), Centre for Information Technology (CIT), Centre for Research & Publication, Centre for Gender Studies (CGS), Centre for Management Development Programmes (CMDP) and Centre for Entrepreneurship Development (CED). These Centres conduct short-duration Executive/Management Development Programmes for Senior/Top Level Officials/non-officials of the cooperative sector.