He made the remarks while initiating a discussion in Lok Sabha on the bill that would allow the IIMs to offer degrees and doctorates to students.
At present, the IIMs can award only certificates, diplomas and fellowships.
The Indian Institutes of Management Bill, 2017, seeks to declare certain IIMs as "institutes of national importance" with a view to empower them to attain standards of global excellence in management-related areas.
Javadekar also said the bill would be a "historic step" as it would give freedom and autonomy to these institutes.
"There would not be any government control... We have to trust the best brains, the best institutions," he said, adding that this bill is the beginning of such an era.
The discussion on the bill remained inconclusive and will be taken up tomorrow.
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