Top 10 Best Business schools in India

In this article, I 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.

Many schools make big claims, and it’s hard to know which ones are truly the best B-Schools. Before you choose an MBA school, you should think about a few things. To help you make a good choice this admission season, we’ve made a list of the best B-Schools in India.

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List of Best Business schools in India

1) Management Development Institute

The Management Development Institute (MDI) is a private business school in Gurgaon, near New Delhi, India. It started in 1973 with support from the Industrial Finance Corporation of India.

MDI has received good rankings in recent years. In 2019, it was ranked fifth in India by Business Today’s “India’s Best B-Schools” list. In 2020, the National Institutional Ranking Framework (NIRF) ranked it 10th among management schools in India, and Outlook India ranked it 3rd among private MBA institutions.

MDI offers different programs like full-time management courses, part-time executive programs, and research programs for fellows.

2) XLRI – Xavier School of Management

XLRI – Xavier School of Management, previously known as Xavier Labour Relations Institute, is a private business school in Jamshedpur, Jharkhand, India. It was established in 1949, making it India’s oldest business school. In 2020, the same organization opened a new campus in Jhajjar, Delhi.

This institute is managed by the Society of Jesus (Jesuits) and is committed to responsible management education. They engage in social initiatives year-round and emphasize sustainability, aiming to become carbon neutral by 2020.

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

3) Indian Institute of Management, Ahmedabad

The Indian Institute of Management Ahmedabad (IIM Ahmedabad) is a well-respected business school located in Ahmedabad, Gujarat, India. In 2017, the Ministry of Human Resources, Government of India recognized it as an important institute. It was established in 1961 and provides master’s degree programs in management and agri-business management, a fellowship program, and various executive training programs.

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

IIM Ahmedabad offers different full-time and part-time postgraduate programs that lead to an MBA degree. They also have diploma programs available.

4) International Management Institute

The International Management Institute (IMI), located in New Delhi, India, is a private business school. It started in 1981 and was the first business school in India sponsored by a corporation. Sanjiv Goenka, the Chairman of RP-Sanjiv Goenka Group, leads 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, provides various post-graduate diploma programs in management. These include a Post Graduate Diploma in Management (PGDM), as well as programs in Human Resource Management (PGDM-HRM) and Banking and Financial Services (PGDM-B&FS).

5) Indian Institute of Management, Calcutta

The Indian Institute of Management Calcutta (IIM Calcutta or IIM-C) is a government-run business school located in Joka, Kolkata, West Bengal, India. It was established in 1961 and holds special importance as the first-ever Indian Institute of Management. In 2017, the Government of India recognized it as an Institute of National Importance.

IIM Calcutta offers various full-time academic programs, including a two-year MBA program, a one-year Post Graduate Diploma (PGPEX-VLM) program for experienced executives, a Doctor of Business Administration program, a two-year Post Graduate Diploma in Business Analytics program, and a one-year program in Healthcare Management. It’s worth noting that IIM Calcutta is one of just three business schools in India with triple accreditation, a prestigious recognition.

Moreover, IIM Calcutta stands out as the only business school in India that is 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 government business school in Bangalore, India. It’s an important institution that started in 1973, making it the third IIM after IIM Calcutta and IIM Ahmedabad.

IIMB offers various programs like Post Graduate, Doctoral, Executive Education, and Certificate Programs. The main program is the MBA, which comes in three types: one-year full-time, two-year full-time, and two-year executive (weekend).

The Post Graduate Program in Management (PGP) is a regular two-year full-time MBA for people with 0-4 years of experience who pass the Common Admission Test (CAT).

IIM Bangalore also has a one-year full-time MBA program called the Executive Post Graduate Program in Management (EPGP), designed like global MBA courses, for people with more experience who pass the Graduate Management Admission Test (GMAT).

IIMB gives out degrees and certificates. Before, it only gave diplomas because IIMs weren’t universities but societies. But in 2017, the Indian Institutes of Management Act declared them important institutions, so they could award degrees.

In 2018, IIM Bangalore became the first to give MBA degrees to its students in the Post Graduate Program and Executive Post Graduate Program, the full-time MBA programs.

7) Indian Institute Of Management–Lucknow

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

Besides its own programs, IIM Lucknow also guides newly established institutions like IIM Jammu, IIM Rohtak, and IIM Kashipur. It used to mentor 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 at 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 independent business school situated in the university town of Manipal in Karnataka, India. It began in 1980 and is the fifth business school in India to get recognition from both the Association to Advance Collegiate Schools of Business (AACSB) and the Association of MBAs (AMBA).

TAPMI offers different 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 partnership with the University of Dubai. TAPMI collaborates with various business organizations to provide ongoing learning and education for their executives.

The institute arranges 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

The Indian Institute of Management Kozhikode (IIM Kozhikode or IIMK) is a government business school located in Calicut (Kozhikode), Kerala. It started in 1996 with the support of the Government of India and the State Government of Kerala. Among the 20 Indian Institutes of Management (IIMs), it was the fifth to be established.

IIM Kozhikode does many things in the field of management education, like research, teaching, training, consulting, and developing resources for learning. They focus on building skills for analysis, considering global and cross-cultural issues, and also care about social matters alongside business needs.

Like all IIMs, IIM Kozhikode is an independent institution under the Ministry of Human Resources Development, Government of India. They can make their own curriculum and hire their own teachers. In 2011, the government thought about giving IIMs more freedom, like choosing their directors and chairman of the Board of Directors.

The PGP (Postgraduate Program) and the ePGP (Executive Postgraduate Program) courses at IIM Kozhikode got international approval from 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 business school in Mumbai that started in 1981. It’s a non-profit school run by Bharatiya Vidya Bhavan. They offer different management programs, both full-time and part-time.

In the Masters in Management (MIM) Rankings for 2021, SPJIMR was ranked #2 in India and #39 in the world by the Financial Times. The QS Global Rankings for 2022 put SPJIMR in the 151-200 range.

In 2021, at the United Nations PRME Global Forum, SPJIMR got recognized for its social impact and sustainability work and received a ‘Level 5’ rating from the Positive Impact Rating.

SPJIMR offers several full-time post-graduate 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, which can also be completed at partner schools in Europe or the USA. They also have a full-time doctoral program called the Fellow Program in Management (FPM).

If you want to discover excellent business schools, make sure to check out my previous post on the Best Business Schools in Canada and Best Business Schools in Georgia!