Top 10 Best Business schools in India

Top 10 Best Business schools in India

In this article, we have compiled a list of the 10 best business schools in India. Although India has thousands of institutes offering management degrees, only a few of them have quality faculty and are worth the investment.

With many schools making tall claims, it can be challenging to determine which ones are actually top B-Schools. Before making a decision about the right MBA school, you need to consider several parameters.

To help you make an informed decision during this admission season, we have put together a list of India’s top B-Schools.

List of Best Business schools in India

1. Management Development Institute

The Management Development Institute (MDI) is a private business school located in Gurgaon, a commercial hub near the Indian capital of New Delhi. It was established in 1973 by the Industrial Finance Corporation of India.

According to Business Today’s “India’s Best B-Schools 2019” rankings, MDI was ranked fifth, and in 2020, it was ranked 10th among management schools in India by the National Institutional Ranking Framework (NIRF) and 3rd in India by Outlook India’s “Top 150 Private MBA Institutions.”

The institute offers various postgraduate diploma programs, including full-time programs in management and part-time executive programs, as well as fellowship research programs.

2. XLRI – Xavier School of Management

XLRI – Xavier School of Management (formerly Xavier Labour Relations Institute) is a private business school located in Jamshedpur, Jharkhand, India. It was established in 1949, making it the oldest business school in India. In 2020, the same society launched a new campus in Jhajjar, Delhi.

The institute is run by the Society of Jesus (Jesuits) and is a signatory of the Principles for Responsible Management Education (PRME). It undertakes various social initiatives throughout the year and has a strong focus on sustainability. The campus aims to achieve carbon neutrality by 2020.

XLRI offers two-year diploma programs in management: Postgraduate Diploma in Business Management (PGDBM) and Postgraduate Diploma in Human Resource Management (PGDHRM). It also offers a 15-month full-time residential PGDM program in General Management known as ExPGDM (formerly GMP), a three-year Postgraduate Diploma in Business Management (PGDBM) for working executives, and a Fellowship Diploma in Management (FDPM). Additionally, XLRI is well-known for its various short-term management development programs and a variety of virtual programs.

3. Indian Institute of Management, Ahmedabad

The Indian Institute of Management Ahmedabad (IIM Ahmedabad) is a prestigious business school located in Ahmedabad, Gujarat, India. In 2017, the Ministry of Human Resources, Government of India accorded it the status of an Institute of National Importance. The institute was established in 1961 and offers master’s degree programs in management and agri-business management, a fellowship program, and several executive training programs.

Ravi J. Matthai is the institute’s founding director, and other notable founding figures include Indian physicist Vikram Sarabhai, Indian businessman Kasturbhai Lalbhai, and Indian educator Kamla Chowdhary.

IIM Ahmedabad provides a range of full-time and part-time postgraduate programs that lead to an MBA degree. It also offers diploma programs.

4. International Management Institute

International Management Institute (IMI), New Delhi, is a private business school located in New Delhi, India. Established in 1981, it was India’s first corporate-sponsored business school. Sanjiv Goenka, Chairman of the RP-Sanjiv Goenka Group, serves as the Chairman of the IMI Governing Committee.

In 2020, IMI was ranked 26th among management schools in India by the National Institutional Ranking Framework (NIRF), 13th by Business Today’s “India’s Best B-schools 2019,” and 9th in India by Outlook India’s “Top 150 Private MBA Institutions.”

IMI, New Delhi offers several post-graduate diplomas in management, including a Post Graduate Diploma in Management (PGDM), along with related programs in Human Resource Management (PGDM-HRM) and Banking and Financial Services (PGDM-B&FS).

5. Indian Institute of Management, Calcutta

Indian Institute of Management Calcutta (IIM Calcutta or IIM-C) is a public business school located in Joka, Kolkata, West Bengal, India. Established in 1961, it was the first Indian Institute of Management to be established, and was recognized as an Institute of National Importance by the Government of India in 2017.

IIM Calcutta offers a range of full-time academic programs, including a two-year full-time MBA program, a one-year full-time Post Graduate Diploma (PGPEX-VLM) program for experienced executives, a Doctor of Business Administration program, a two-year full-time Post Graduate Diploma in Business Analytics program, and a one-year full-time program in Healthcare Management. IIM Calcutta is one of only three triple-accredited business schools in India, and the first to receive this recognition.

In addition, IIM Calcutta is the only business school in India that is a part of the CEMS Global Alliance in Management Education.

Some of the main full-time academic programs offered by IIM Calcutta are:

  • MBA (formerly PGDM): A two-year, full-time degree program
  • Post Graduate Diploma in Business Analytics (PGDBA): A two-year, full-time program in Business analytics
  • Fellow Programme in Management (FPM): A DBA program
  • MBA for Executives (MBAEx) (formerly Post Graduate Programme for Executives or PGPEX): A one-year, full-time MBA degree program for experienced professionals
  • Post Graduate Programme for Executives for Visionary Leadership in Manufacturing (PGPEX-VLM): A one-year, full-time Executive MBA program.

6. Indian Institute Of Management – Bangalore (IIM–Bangalore)

The Indian Institute of Management Bangalore (IIM Bangalore or IIMB) is a public business school located in Bangalore, India. It is an Institute of National Importance that was founded in 1973 and is the third IIM to be established after IIM Calcutta and IIM Ahmedabad.

IIMB offers a range of programs including Post Graduate, Doctoral, Executive Education and Certificate Programs. The flagship program of the business school is the MBA program, which is offered in three modes: one-year full-time, two-year full-time, and two-year executive (weekend).

The Post Graduate Program in Management (PGP) is a traditional two-year full-time residential MBA program for candidates with 0-4 years of experience who are admitted through the Common Admission Test (CAT).

IIM Bangalore also offers a flagship one-year full-time residential MBA program, the Executive Post Graduate Program in Management (EPGP), modeled on global MBA pedagogy, for candidates with higher experience who are admitted through the Graduate Management Admission Test (GMAT).

IIMB provides degree-granting and certificate programs. Previously, IIM Bangalore awarded diplomas instead of degrees because the IIMs were not established as universities through an Act of Parliament, but as societies under the Societies Act. However, the Indian Institutes of Management Act, 2017, enacted by the Ministry of Human Resource Development in December 2017, declared IIMs as Institutes of National Importance, thereby allowing IIMs to award degrees to their students instead of diplomas.

Therefore, in 2018, IIM Bangalore became the first IIM to award MBA degrees to the graduates of the Post Graduate Program and later to the Executive Post Graduate Program, the full-time MBA programs of the business school.

7. Indian Institute Of Management–Lucknow

The Indian Institute of Management Lucknow (IIM Lucknow or IIM-L) is a public business school located in Lucknow, Uttar Pradesh, India. It was established in 1984 as the fourth Indian Institute of Management (IIM) by the Government of India. IIM Lucknow offers post-graduate diploma, fellowship, and executive programs in management. It is recognized as an “Institution of Excellence” by India’s Ministry of Human Resource Development.

In addition to its own programs, IIM Lucknow also serves as the mentor institution for the newly established IIM Jammu, IIM Rohtak, and IIM Kashipur. It also served as a mentor institute for IIM Sirmaur until 2018.

IIM Lucknow offers a regular two-year diploma program in management, a one-year MBA program for executives (fully residential), a two-year MBA program for working executives (partly residential), a fellowship program, and short-term MDP and executive programs. The management programs of IIM Lucknow are accredited by the London-based AMBA association.

8. T. A. Pai Management Institute

The T.A. Pai Management Institute (TAPMI) is a private autonomous business school located in the university town of Manipal in Karnataka, India. Established in 1980, it is the fifth management institute in India to have dual accreditation from the Association to Advance Collegiate Schools of Business (AACSB) and Association of MBAs (AMBA).

TAPMI offers several programs, including a two-year residential post-graduate diploma in management with specializations in human resources, banking and financial services, and marketing and sales. It also has a Ph.D. program and an 18-month joint MBA program in collaboration with the University of Dubai. TAPMI collaborates with several business organizations to provide continuous learning and education to their executives.

The institute conducts student and faculty exchanges with Sheffield Hallam University in the UK, Macquarie University in Australia, and the Asian Institute of Management in Manila.

9. Indian Institute Of Management–Kozhikode

Indian Institute of Management Kozhikode (IIM Kozhikode or IIMK) is a public autonomous business school located in Calicut (Kozhikode), Kerala. The institute was established in 1996 by the Government of India in collaboration with the State Government of Kerala and is one of the 20 Indian Institutes of Management (IIMs), being the fifth one to be established.

IIM Kozhikode conducts various academic activities in the field of management education, including research, teaching, training, consulting and intellectual infrastructure development. The institute places emphasis on developing analytical skills and focuses on global and cross-cultural issues while balancing business demands with social concerns.

As with all IIMs, IIM Kozhikode is an autonomous institution under the Ministry of Human Resources Development, Government of India. The institute has the freedom to design its own curriculum and recruit faculty members. In April 2011, Union Minister Kapil Sibal announced that the government was considering enhancing the autonomy of IIMs by allowing them to select their director and chairman of the Board of Directors.

The PGP (Postgraduate Program) and the ePGP (Executive Postgraduate Program) courses have been granted international accreditation by the Association of MBAs (AMBA).

10. P. Jain Institute of Management and Research

The S. P. Jain Institute of Management and Research (SPJIMR) is a Mumbai-based private, non-profit post-graduate management school that was founded in 1981 under the aegis of Bharatiya Vidya Bhavan. The institute offers various full-time and part-time management programs.

In the Masters in Management (MIM) Rankings 2021, SPJIMR was ranked #2 in India and #39 globally by the Financial Times. The QS Global Rankings 2022 has placed SPJIMR in the 151-200 band.

At the 2021 United Nations PRME Global Forum, the Positive Impact Rating recognized SPJIMR as a pioneering school with a ‘Level 5’ rating for its social impact and sustainability accomplishments.

SPJIMR provides several post-graduate full-time programs, including a 2-year Post Graduate Diploma in Management (PGDM), a 15-month Post Graduate Program in Management (PGPM), an 11-month Post Graduate Management Program for Women (PGMPW), a 6-month Global Management Program (GMP) in India, and completion of the program at partner schools in Europe/USA. Additionally, the institute offers a full-time doctoral program, Fellow Program in Management (FPM).


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