Indian Institute of Management (IIMA), Ahmedabad
The second Indian Institute of Management to be established after Calcutta, IIMA has consistently been the most sought after business school in India. IIMA features in the Top 25 global rankings of B-Schools. It received the EQUIS accreditation by the European Foundation for Management Development in 2008, becoming the first Indian B-School to achieve this accreditation.
Besides academic excellence, IIMA boasts of a 100-acre heritage campus designed by Louis Kahn, one of the most influential architects of the 20th century.Over 1000 full-time students and 1,500 executives are enrolled in courses every year and are attended to by 100 full-time faculty members (all with PhDs). IIMA offers a Post Graduate Program in Management, Fellow Program in Management, Post Graduate Programme in Food and Agribusiness Management, One Year Post-Graduate Programme in Management for Executives, Armed Forces Programme and Faculty Development Programme. The faculty members drive every aspect of the Institute – Academics, governance, research, and consultancy. They combine the very highest standards of teaching and mentoring with diverse backgrounds as eminent policy makers, researchers, theoreticians and consultants. The institute has partnered with 79 business schools. Around 100 students from foreign partner schools spent a term at the IIMA in 2015-16, while 140 outgoing students benefitted from the program.
Indian Institute of Management (IIMC), Calcutta
The first of the IIMs to be established in 1961, IIM Calcutta is a fully autonomous institution offering several postgraduate, executive and doctoral programs alongside being engaged in research and consultancy. IIMC’s vision is to emerge as an “International Centre of Excellence in all facets of Management Education, rooted in Indian ethos and societal values.” It is the only Indian business school that is a member of the Global Alliance in Management Education (CEMS), which is an elite club of 28 premier business schools from across the world. By getting the EQUIS (EFMD Quality Improvement System) Accreditation by EFMD, an international organization for management development in April 2016, IIMC has become the first Indian business school to get accreditation by all three major accreditation agencies in the world for management. AACSB (The Association to Advance Collegiate Schools of Business) and AMBA (The Association of MBAs) accreditation are the other two.
IIMC is renowned for its finance-related courses. Spread across 130 acres on the outskirts of Kolkata, the institute offers many areas of development for students such as a ‘Management Center for Human Values’, a financial research and trading lab with real-time access to national and international financial data and market information; Centre for Entrepreneurship and Innovation where its main objective is to generate innovative ideas and implement them pragmatically.
Xavier Labour Relations Institute (XLRI), Jamshedpur
XLRI Jamshedpur was founded by Fr. Quinn Enright, S.J. in 1949 with a vision of “renewing the face of the earth.” In its pursuit to become a center of academic excellence and to build the consciousness to improve organizations and the society at large, XLRI started courses for management and trade unions in 1949, and it was in 1968 that it started offering a full-time business management course. The school underlines the value of working for the greater good of the society and not just for economic gains. This, along with an impeccable business management program in Human Resource Management and Industrial Relations, is what sets apart this premier institute from the rest.
XLRI Jamshedpur has an enviable IT infrastructure and has one of the most e-enabled professional facilities among academic campuses in India. XLRI has over 80 courses across finance, human resources, marketing, strategy, operations, systems and economics. XLRI has a great alumni strength, and its alumni feature among the most illustrious in the Indian industry across human resources, marketing, finance, and consulting. The most prestigious global employer brands visit XLRI for recruitment every year. XLRI students are from among the premier educational institutes as well as from private and public sector organizations.
Indian Institute of Management (IIML), Lucknow
IIM Lucknow was established in 1984 in the heritage city, becoming the fourth of the IIM series after Calcutta, Ahmedabad and Bangalore. It is the first IIM to set up a satellite campus exclusively for executive education at Noida.
Besides having international academic Collaborations with 32 institutions in Europe and North America, IIML is also the mentor for two new IIMs — IIM-Rohtak and IIM-Kashipur. Three of the institute’s programs, i.e. PGPM, IPMX, and WMP, have been accorded the AMBA accreditation. It is not just students who gain from the exposure but also working professionals, entrepreneurs and mid-level and senior-level executives who want to enhance their skills while working in current business environment.
The mission of IIM-L is to help improve management systems with regard to business, industry and public services through pursuit of excellence in management education, research, consultancy and training.
Jamshed Jiji Irani, former Managing Director of Tata Steel, serves as the Chairman IIML and Dr. Ajit Prasad is the current director of the institute.
Management Development Institute (MDI), Gurgaon
Established in 1973, MDI is one of the most sought-after B-schools in India. MDI was the first Indian B-school to get an international accreditation. It received the AMBA accreditation in 2005, and was reaccredited in 2011. It has also been awarded the SAQS (South Asian Quality Assurance System) accreditation until 2018. In 2013, MDI introduced its International Summer University program that exposes students from Tier-2 and Tier-3 cities to the management discipline and learn from faculty overseas.
MDI, very recently, has collaborated with Confederation of Indian Industry-Centre of Excellence for Sustainable Development (CII-CESD) to promote transparency in decision-making in the private sector and increased public participation. The project involves preparation and documentation of case studies on business ethics, organising conferences, workshops and seminars on business ethics. Taking a step towards building collaboration between academia and industry, the Gurgaon-based B-School has also signed an MoU with Delhi Metro Rail Corporation under which they will jointly pitch for projects in international market in areas such as capacity building and jointly develop management programs.
MDI is also known to have started India’s first ever student-run mutual fund, Unnati, in June 2001. What started with Rs 50,000 has now registered AUM of close to Rs 10 lakh.
Indian Institute of Management (IIMK), Kozhikode
IIMK was established in 1996, becoming the fifth of the IIM series in the country. The institute is also focused on curriculum excellence, over and above selection and placement excellence to remain globally relevant. It has received AMBA global accreditation for its two-year executive management program. IIMK was the first institute in Asia to offer distance management education to working executives. The Interactive Distance Learning (IDL) Program for working executives in India started in 2001-02 with 300 class contact hours.
A grant of Rs 3 crore from the Department of Science and Technology, Government of India, has recently been approved to set up a business incubator, registered as IIMK LIVE –Laboratory for Innovation, Venturing and Entrepreneurship, under the Startup India Plan. Situated on two hillocks in the Kunnamangalam area of Calicut in Kerala, IIM Kozhikode inaugurated the first Business Museum India in 2013, adding up to its picturesque infrastructure.
The institute has rich gender diversity, with 54% intake of female students in the 2015 batch, and this is much more than the global average of 36 percent women representation in MBA colleges. IIMK has associations with several universities in EU and ASEAN countries making for a strong International Student Exchange Program. It also signed a MoU with Yale University in 2010 to establish a Center of Excellence for Academic Leadership.
Indian Institute of Management (IIMI), Indore
The sixth school under the Indian Institute of Management family, IIM Indore has been a pioneer in the field of management education since its inception in 1996.
There are several initiatives undertaken by the institute that sets it apart from its contemporaries. It is the only IIM to offer a five-year undergraduate management program. The course, called Integrated Program in Management (IPM), started with its sixth batch in August this year.
The institute keeps facilitating activities in the rural region engaging students and helping them learn about management at the grassroots. IPM students set up smart classes in 25 rural government schools to help students learn and use technology to assist in putting across the teacher’s message in a better way. Earlier in 2014, IIM Indore had joined hands with the Government of Madhya Pradesh and launched a program called the Rural Immersion Program, under which the post graduate students spent a week in rural Madhya Pradesh helping them be effective managers in a context where inclusive growth is a national priority.
To encourage entrepreneurship, the institution also has an e-cell, which is mentoring 15 startups, all at various stages of development. The cell also recently organized the i5 Summit, a joint event of IIMI and IIT Indore.
Faculty of Management Studies (FMS), Delhi
One of the early proponents of a formal degree of MBA in the country, the institute was established in 1954 with a commitment to create thought leadership with a deep understanding of business.
FMS gets a cross-functional advantage, by being a part of the Delhi University campus. It takes inputs from the departments of Economics, Law, Sociology, Commerce and Operations Research to create a wider view and deeper understanding.
With a high student-faculty ratio, FMS is among the few institutes in India where every permanent faculty member has a PhD. The faculty is also involved in various consultancy programs and MDPs.
FMS is one of the participating institutions in the India-EEC Exchange and Co-operation Program for Management Professors. It has also been doing well from a placement perspective, with the average pay package increasing by 20 percent this year and it also recorded 100 percent placement. The institute celebrtaed its diamond jubilee in 2014-15. FMS has collaborated with many institutions in the past, and is the founding member of the Association of Management Development Institutions of South Asia (AMDISA).
Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
Since its origin in 1981, the institute has undergone a massive transformation. Maturing from its temporary location at Bhaidas Auditorium, today it is a large, imposing university with seven specialized schools plus two off-campus operations with an intake of over 6,000 students and over 430 full-time faculty members. NMIMS has nine schools, two satellite operations and three off-campus centers. To add on to the already existing 430 full time faculty members, NMIMS also has over 200 visiting faculty, experienced in both industry and academics.
NMIMS was granted a ‘deemed university’ status by the UGC in 2003. The institute has well-developed international linkages with reputed universities, leading to international assignments for teaching, research & consultancy and faculty and students’ exchange programs.
NMIMS has a very unique specialized MBA programmes in Pharmaceuticals, MBA Entrepreneurship & Family Business and Social Entrepreneurship apart from regular MBA streams. As part of the popular MBA in Entrepreneurship and Family Business, the students are sent for an international tour for three weeks in a year. It recently partnered with JLL, an international property consulting firm to offer specialization in ‘Real Estate Consulting and Transaction Services’ to technology management students.
National Institute of Industrial Engineering (NITIE), Mumbai
The National Institute of Industrial Engineering (NITIE), Mumbai was established by the government of India with the assistance of United Nations Development Program (UNDP) through the International Labour Organization (ILO) in order to create skilled professionals. It is funded by the government and initially had knowledge centers in Hyderabad, Chennai and Delhi. During the 1980s, these were shut down and the decision was taken to have a single centre at Mumbai. In 2013, the institute celebrated its 50th anniversary.
Besides a leading-edge academic environment, NITIE offers several infrastructural and environmental benefits that offer students the opportunity to learn and explore the field of industrial research comprehensively. One of the notable facilities at NITIE includes the Ergonomics and Human Factors Engineering Laboratories. The laboratory is dedicated to study and research on physical ergonomics, occupational health and safety, industrial environment, environmental engineering, and energy research. The fields and operating environments offered at NITIE are considered to be among the very few for the niche fields of study. Besides regular courses, the institution has conducted MDPs for private and public sector organizations.
Disclaimer: Only the schools that participated have been ranked. This is not a comprehensive list of all B-Schools in India
Also read: Best B-schools 2016: Ranks 11-25
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