India Shining Among Top 4 Much-Admired B-School Destinations Across The World!

Over the years, we Indians have always been under the impression that management courses in the UK and US have far more credibility, as compared to those in India. Brace yourself, because the latest survey carried out by the Graduate Management Admission Council which conducts the GMAT, a B-School entrance examination, has thrown light on a pleasantly surprising fact – India has been ranked 4th on the list of the Top 10 preferred B-Schools internationally. As per the survey, United States and United Kingdom have been ranked first and second respectively as the most preferred destinations for B-schools.

Canada has bagged the 3rd place on the list while India securing the 4th position has surprised quite a few, amiably though.

India’s entry to the top list of B-Schools is no surprise to some. According to experts, India has been growing at a fast pace, especially over the last two decades. The developments that have been made to the country’s infrastructure have been commendable. The country has been coming up with some of the most prestigious and premier B-Schools in India, whose standards are at par with international B-Schools.

Aspirants today analyze the return on their investment after an MBA from any B-School and evaluate whether or not it is worth investing the moolah on international MBAs. Apart from return on investment, another factor that has to be given great thought to, before taking the plunge, is the investment that has to be made. It is a well known fact that investment in India for any management course is way lesser than what would be the case with an international MBA from United States or United Kingdom.

Colleges like the Indian School of Business (ISB), Hyderabad has been ranked Number 12 globally in the Financial Times, London Global MBA rankings earlier this year. Emergence of institutions of this stature is bound to attract a lot of aspirants from all across the world. The cost of education, cost of living, and hence the overall investment is comparatively low in India, as compared to the costs involved in getting an MBA from the likes of Australia, Canada, US and UK on the whole.

Hence, India is becoming one of the most preferred destinations for seeking management education globally. Management education aspirants have now become very mature and are evaluating the benefits of every opportunity cost involved.

We have also seen the increase in the number of IIMs in India in the past couple of years, thus making it a more viable option for most of the aspirants who want to opt for management education in India.

Apart from the CAT scores, IIMs also consider the GMAT scores for admissions into the IIMs. However, there is an irony to this situation. While there is news on India Shining on the global Top 4 much-desired B-School destinations across the world, another fact that cannot be ignored is the great ‘Indian dream’ of Indian students to make it to American B-Schools.

The world was going through a recession in 2008-09 and only in the beginning of 2010 things started reaching the new normal. However, the testing year 2010 saw Indian applicants making a beeline to seek admissions to the Business schools in Canada. About 78% of the foreign applications received for seeking an MBA abroad in Canada were from Indians. Hence, all Canadian management programs that recruited foreigners targeted India, and so did 44% of the European programs that undertook special recruitment efforts to attract overseas candidates.

Some of the futuristic experts predict that India is gradually and progressively going in the direction of emerging as one of the most preferred management studies hub, especially because it is known to provide some of the best academics. But that is not the only distinguishing factor. India, apart from providing the best scholastic experience, is also one of the only countries which provide state-of-the-art amenities with marginal cost structure as compared to the Western countries. Management colleges in India sure have undergone a drastic change since the last five decades, when the first management institutes were started in the 1950s.

Institute of Management Technology (IMT) is one such premier management institute in India. It is one of the top, with its presence in Dubai, Ghaziabad, Nagpur, and lately, in Hyderabad too. IMT Dubai is the first business school internationally to have got the accreditation by the Commission for Academic Accreditation, Ministry of Higher Education and Scientific Research, UAE in September 2007. IMT Dubai was also granted membership with the Brussels based EFMD, which is the umbrella organization for leading European B-schools in charge of EQUIS accreditation.