Submitted by Rupesh Bisht, associate director of the Admissions and Financial Aid Department at the Indian School of Business (ISB).
Poised for superpower status in the 21st century, India’s emerging economy is predicted by many to become the world’s largest within the next century. A massive democratic population, entrepreneurial spirit, and resource-conscious country, India—thanks to the promise of a stable government and analysts remaining bullish on the equity-market—has the potential to rapidly grow its economy while others stagnate. And as the anticipated “Indian Century” gathers momentum, India’s business schools—along with business schools of other emerging economies—offer aspiring global leaders the unprecedented opportunity to gain unique insights on the fast-growing economy.
The Rise of the Indian B-School
With an increasing number of Indian business schools expected to receive accreditation in the near future, the shift from a domestic to a global viewpoint is well underway.The Indian School of Business (ISB), for example, is well-positioned on the international business school scene. In 2014, we achieved record numbers in everything from domestic and international salaries to unprecedented employment offers from Fortune 500 companies including technology and consulting innovators such as Apple, Facebook, Google and Microsoft. A staggering 423 companies (an increase of 21 percent from the prior year) recruited on campus.
Marketability in the Global Economy
And with the shift to a global viewpoint comes the enhanced commodity of international faculty and students: as the Indian higher education sector explodes, a diverse student body is increasingly imperative. At ISB, we have our pick of extremely talented and well-trained students, thanks to an admissions yield of 85 percent; this is fast approaching the 90 percent seen at elite institutions such as Harvard and Stanford.
Graduates of business schools in emerging economies are also in great demand when they hit the workforce. Today’s employers are not only looking for the cream of the crop, they’re also in search of future business leaders with international perspectives. Diversity is imperative, and an international education vastly boosts marketability. Furthermore, Indian business schools offer students the chance to develop expertise in specialized industry and functional majors so they’re prepared to hit the ground running.
In short, job seekers who want their resumes shuffled to the top of the pile should seek out ways to show their diverse viewpoint, and international study offers exactly that. In conjunction with India’s rising economic star status, the country's B-school graduates are particularly sought after.
Return on Investment
An added benefit of attending business school in India is the potential return on investment, which is significant, particularly when you factor in the reasonable cost of living and low tuition fees compared to business schools in other desirable locations, such as the US and the UK. Because Indian business school graduates are in such great demand, their earning potential is equally significant.
While India might not come immediately to mind when it comes to business schools, it may in the very near future. Students savvy enough to pursue higher education opportunities in India can gain a valuable global perspective...and a critical leading edge.