IIM Indore provides a comprehensive and research oriented PhD (Doctor of Philosophy) program, which aims to equip students with advanced research skills and knowledge in different areas of management and administration to make them compatible and lead to becoming good researchers by enhancing the academic and practical environment through outstanding academic work. The PhD program at IIM Indore is offered as a Doctoral Program in Management (DPM) that other name of PhD.

The program offers a wide area of research for students, a few major specializations of PhD program at IIM Indore are Communication, Economics, Finance & Accounting, Humanities and Social Sciences, Information Systems (Information Systems Management, Emerging technologies, and Data Science / Analytics), Marketing Management, Operations Management and Quantitative Techniques (Operations Management, Operations Research, Statistics and Mathematics), Organizational Behaviour and Human Resource Management, and Strategic Management (Strategic Management, International Business and Entrepreneurship).

The duration of the PhD program at IIM Indore ranges between 3-5 years and throughout the program, the main objective is to assist students acquire relevant methodological tools for management with the current industry relevant abilities to stand out in the global competitive market and match their education quality standards. 

The PhD program at IIM Indore is an on-campus residential program that makes it not suitable for working class students. However, students who are willing to earn a doctorate degree without quitting their jobs or hampering their work schedule can enroll in an Online DBA (Doctorate in Business Administration) program that holds the same value and credibility as a regular PhD program.