Destination India
Management education in India is undergoing radical change. The two current developments sweeping India, namely liberalization and globalization, are having a considerable impact on management education. Today there are over 3,200 management institutions in the country.
Also, the accelerated growth in India’s economy in recent years has driven demand for a technically and professionally qualified workforce. India’s demographics support the growing demand: It is estimated that nearly 20 percent of India’s population is expected to be in the age group 15 – 24 years by 2016.
India will remain a young nation, the largest contributor to the global workforce, over the next few decades. From 2010 to 2030, India’s total working-age population is poised to rise to 962 million from 749 million, accounting for 28 percent of the global increase over the period, according to a November 2010 report titled, “Skilling India The Billion People Challenge,” published by CRISIL’s Centre for Economic Research.
Why Study at a Top Indian School?
A graduate management degree opens up a world of opportunity for anyone who pursues one. Many business positions require an MBA for advancement. For example, investment banking and finance, management consulting, retail, telecom, insurance, automobiles, consumer goods, and consumer durables firms all hire large classes of newly minted management graduates each year at highly competitive salaries into the "associate / intern" level. Graduates from full-time executive management programs are placed laterally in mid-level or at times senior-management roles in leading firms.
Classifying Management Institutions in India
Management institutions in India can be classified into three tiers. The top tier comprises the top 25 business schools in India. Although rating agencies and rankings (e.g., Crisil, Business Today, Outlook, pagalguy.com) may not agree 100 percent about the top 25 or their relative ranking vis-a-vis each other, some of the schools in this tier include, among others:
- ISB Hyderabad
- IIM Bangalore
- IIM Lucknow
- IIM Kozhikhode
- XLRI Jamshedpur
- SPJIMR Mumbai
- NMIMS Mumbai
- MDI Gurgaon
- TISS Mumbai
- ICFAI Hyderabad
- SCMHRD Pune
- IMT Ghaziabad
- XIME Bangalore
- DMS at the IITs in Delhi, Mumbai, and Kharagpur
- IIM Ahmedabad
- IIM Calcutta
- IIM Indore
- IIM Shillong
- FMS Delhi
- Great Lakes Chennai
- BIMTECH
- LIBA Chennai
- SIBM Pune
- XIM Bhubaneswar
- NITIE Mumbai
- IIFT Delhi
- SIBM Pune
- XIM Bhubaneswar
- NITIE Mumbai
- IIFT Delhi
These schools offer an excellent environment to management education aspirants in terms of faculty and infrastructure; and unmatched rewards in terms of learning, skill enhancement, peer interaction and career prospects. These schools have already obtained or are initiating the process of gaining global accreditation.
The next tier comprises the next 75 business schools in India, and although different rating agencies / rankings (e.g., Crisil, Business Today, Outlook, pagalguy.com) may not agree 100 percent about these or their relative ranking vis-a-vis each other, some of the schools in this tier include, among others:
- IMI Delhi
- Goa Institute of Management
- BIM Trichy
- VIT Business School Vellore
- Amity Business School
- Alliance Business School
- Amrita School of Business
- IRMA Anand
- LBSIM Delhi
- L N Welingkar Mumbai
- KJ Somaiya, Mumbai
- IILM Delhi
- Punjab University Business School
- Apeejay School of Management
- TAPMI Manipal
- MICA Ahmedabad
- Chetna's RKIMR Mumbai
- NIRMA Institute of Management Ahmedabad
- IFMR Chennai
- XISS Ranchi
- MFC & MBE at South Campus Delhi University
- Fore School of Management Delhi
These schools are beginning to improve from regional leadership to national leadership, and are investing heavily in terms of faculty, infrastructure, corporate relationships, and international linkages. In the process, they are enhancing the value proposition in terms of learning, career prospects, and return on investment made by their students on acquiring management education.
Other Business School Options
The remaining business schools are part of the next tier. In these schools, we see an ongoing effort to surmount the challenges faced in offering a quality management education experience, most importantly quality faculty and an optimal learning environment.
There are several management programs offered at business schools in India, and the five most popular programs in this tier include:
- Two-year full time MBA / Post Graduate Diploma in Management - specialization in Finance, Marketing, Strategy, HR, IT etc.
- One-year full time Management Program for Executives (typically requires 2 - 7 years of prior work experience)
- Post-Graduate Diploma in Management in a core area such as Retail, Insurance, Telecom, Healthcare, Software etc.
- Part-time MBA / Management programs for working executives
- Fellow Programs in Management / PhD
