LMA was formed on 15th March, 1978 by the initiative of the Dept. of Business Management at Punjab Agricultural University (PAU) and the leading industrialists of Ludhiana. Dr. D. R. Singh, the then Head of Dept. of the Dept. of Business Management was LMA's founding President.
The initial objective of the LMA was to enable interaction among management professionals, academics, and entrepreneurs, to foster ideas to compete in the new world engendered by globalization. Over time LMA Ludhiana, and its members, have risen to become famous nationwide, to be lauded with national awards, and to Set New Benchmarks in Management.