Top MBA Colleges in India

Are you looking for the list of top ranked business schools in India offering MBA courses? Check out this list of top MBA colleges in the country.

There are more than 6000 MBA colleges in India. This includes MBA colleges in both the Private and Public sector. The IIMs ranks high in education and campus placement of the students with the leading multinational companies around the world. These business schools offer courses on MBA, PGDM, BBA, BBM and MHA. The agencies in India and media houses viz. India Today, Outlook, NIRF, Times of India, The Week analyse and announce results regarding the top-ranking MBA colleges in India periodically.

The number of students opting for MBA courses is increasing every year. Owing to the success stories of some of the famous identities in business and the news about incredible offers to some of the MBA graduates. It seems that everyone wants to study in IIM-A, IIM-B or IIM-C. However, there are other MBA colleges too, which are equally good. We have evaluated the business schools and colleges offering management courses, towards ascertaining the top MBA colleges in India.

The criteria for ranking the best among the lot are described in the succeeding paragraphs.

Environment - The environment at the business school and management school is an essential aspect of instilling the quality and developing the student into a skilful graduate. The environment of education means, the infrastructure available, facilities provided to the students that are conducive for the overall development of him or her, the extracurricular activities that can relieve the stress of education and create an atmosphere of joy and togetherness and so on.

It is pertinent that all the major MBA colleges in India consider the comprehensive development of the student. And they have constituted the best facilities for the growth of the student as a qualified professional. Most of the infrastructure and facilities available at the business schools are common in all.

Placement History – The ultimate aim of qualifying the MBA course is highly paid employment opportunities. The news of students being placed at elite business firms with unbelievable initial salary, make the aspirants craving for admission to a specific business school. We have observed that it is not correct to rely on the news and concentrate on one odd incident. Rather, obtain the average placement percentage each year for finding out the best.

As you know, every student in every business school can't succeed in placement with top multinational companies. Only a certain percentage of students are successful in that. We have taken this average as a yardstick for preparing the list.

Quality of Education – Quality of education and the professionals at every MBA college can make or break the reputation of the college. They are the mainstay in moulding the students into tomorrow's management experts. Some of the top MBA colleges have who's who from management studies as their faculty heads and education counsellors.

The students must have extended outreach in the field of management and expertise in handling the critical situation on completion of management course. The experts in management as teachers and faculty members would be able to elevate the students to that level.

Observation from Business Organisations – We have also approached renowned business to have the observations from them. Since the business firms have appointed graduates from different MBA colleges in India, they also have opinions about the students.

The opinions and observations of the multinational companies and business firms have been invaluable and to the point. As they have the first-hand experience in assessing the quality and skilfulness of graduates from different business schools.

Opinions of Students – Being at the receiving end of everything, the students and alumni will also have an opinion about the business school they are attending/ attended. The students are the right choice to garner the real picture of teaching quality. Each student may have a different view from the other. However, it is possible to reach a common analysis.

We have approached several students and alumni to acquire information about the method of teaching, curriculum and overall performance of teaching. The suggestions and opinions from them also have been considered while preparing the list of best MBA colleges in India.

Name and Fame – A business school can't shoot to fame overnight. There must be firm reasons and constant performance for the MBA colleges and business schools to reach the top ranks.

Our aim was also to pinpoint the features that make one business school better than others. The identification of the same is expected to help other B-schools in following the path and improve the quality.

The top MBA colleges in India as per our study are listed below-

Indian Institute of Management, Ahmedabad (IIM-A)

The Indian Institute of Management, Ahmedabad (IIM-A) was established in 1961. The eminent space scientist D. Vikram Sarabhai and renowned industrialist Mr Kasturbhai Lalbhai praised for his philanthropic activities, led the inception of the institute. They were supported by a group of individuals from the state and guided by the then Chief Minister of Gujarat Dr Jivraj Mehta. The key players in establishing this elite institute have been the governments in state and centre, the Ford Foundation and Harvard Business School.

Dr Vikram Sarabhai was the first, part-time, director of the institute from 1961 to 1965 followed by Ravi j Mathai, who had been the full-time director of IIM-A from 1965-72. The institute follows the motto “Vidya Viniyoga Vikasa". This Sanskrit phrase translates to, development by the application of knowledge.

The IIM A is guided and regulated by the IIM A society, formed under Societies Act. The board of governors constituted by the society governs the institute. The governors are selected from relevant areas that can ensure multifaceted development of the nation. Mr Kasturibhai Lalbai was the first Chairman of the board of governors.

The institute has been maintaining the top rank among the best MBA colleges in India for a long time. The selfless dedication of the faculty and guidance from the expert governing council have been the basic reasons for the outstanding performance. IIM A has been the recipient of the European Quality Improvement System (EQUIS), the first management institute in India, to receive the award. Further, IIMA is accredited to the European Foundation for Management Development (EFMD).

The key features that distinguish IIM A from other business schools are

- The innovative teaching methods and curriculum followed
- Promoting research-based education, to enrich the students with better practical knowledge of the aspects related to management. Thus making them capable of handling critical situations efficiently

- Best infrastructure

- Notable members as faculty for teaching, researching and preparing educational policies and programs.


Indian Institute of Management, Bangalore (IIM-B)

After the independence of the nation, India had been nurturing its technical talents through the technical institutes constituted around the nation. The country had been successful in achieving a quantum leap in technology related to science, space, defence and so on. With utilising the right kind of talent, India achieved the status of developing nation.

Of late, the visionaries guiding the nation understood the necessity of indigenous management experts to handle management related to finance, human resources, material management and related fields. This led to the foundation of the Indian Institute of Management, Bangalore.

IIM B was founded in 1973 with Mr TA Pai as the Chairman of the board of governors. Mr NS Ramaswamy was the first director of the institute. Presently IIMB has approximately 1200 students undergoing studies in degree programs. Further, it has around 5000 annual executive education participants. IIMB has been identified as the institute of national importance according to the IIM Act of 2017.

The motto of IIM B in Sanskrit is Tejasvi Navadhitamastu, which means let the education enlighten. As the motto means, the institute has been educating and enlightening students in the field of management since commencement. The students with the excellent education at the institute have been instrumental in the development of various public and private organisations in India and around the world.

The location of IIM B is an added advantage to the institute. Being one of the most developed cities in India; Bangalore houses premier campuses of world's leading industrial establishments and business firms. This gives the students the facility to acquire practical knowledge even in the minutest nuances of management.

Similar to IIM A, IIM B also has the European Quality Improvement System (EQUIS) from the European Foundation for Management Development (EFMD) for five years since 2016. IIMB has also collaborated with different organisations viz. Goldman Sachs, Michael and Susan Dell Foundation and with NITI Aayog.

The second campus of IIM B is being developed in Jigani. With about ten centres and more campuses coming up IIM B is in the path of exploring new areas.


Indian Institute of Management, Calcutta (IIM-C)

Indian Institute of Management located at Joka, Kolkata was instituted in 1961. It is the first national institute for Post-Graduate studies and Research in Management. Alfred P. Sloan School of Management (MIT), the Government of West Bengal, The Ford Foundation and industrialists came together for the formation of the institute. It has been fortunate to have some of the esteemed professionals at the helm of the institute.

IIM C boasts of excellent infrastructure facilities with group study areas, conference rooms, lounges, and libraries with business and engineering books. The governing body at IIM C has made it a point to move ahead with time and the institute has imbibed all the technological advancements. The institute has digital smart classrooms, Wi-Fi enabled campus and facilities for video conferencing with experts around the globe.

This autonomous institute has post Graduate and Doctoral level programs, Executive Training Programs, Research and Consulting Activities and so on. IIM C has an on-campus accommodation facility for residential students. The five big halls in the campus act both as study areas and social space for cultural and entertainment activities. A new hostel named Lake View hostel, which is installed with world-class facilities have also come up on the campus.

IIM C ranks third in the top 10 MBA colleges in India. However, the ranking may be considered as an indicator only. Since the ranking may change every year with variations in the performance of the business schools and MBA colleges.


Indian Institute of Management, Lucknow (IIM-L)

Located in the heritage city of Lucknow, IIM L was the fourth management school to be established in the IIM family. The predecessors being IIM Calcutta, IIM Ahmedabad and IIM Bangalore. The institute adorns the fourth position among the top business and management schools in India. IIM L has partnered with a plethora of universities across continents to deliver an exceptional education to the students.
The institute was the first IIM to set up a satellite campus exclusively for executive education for Delhi NCR and Noida regions. The institute achieved this feat in the year 2005. Delving with diverse aspects of management, IIM L provides practical-oriented courses. The students are developed into problem-solving, creative, and excellent managers, who are capable of thinking out of the box.
IIM L has been performing constantly with ethical educational practices that are aimed at nourishing the students with human values. At the same time, performing their level best with the job they are assigned. This institute sprawling about 190 acres of land envisages a further expansion in the years to come.


Xavier School of Management, Jamshedpur (XLRI)

Xavier Institute of Management has been in the field of education well before the first IIM was established. XLRI came into existence in Jamshedpur, shortly after independence i.e. in 1949. Fr. Quinn Enright S.J. along with Fr. Bill Tome founded the institute.

The growth of the institute has been gradual, stable and promising. XLRI believes in education to its students, which will make them a better human being capable of “renewing the face of the earth". The institute began with courses for management and trade unions and continued to add more courses at frequent intervals.

XLRI is considered as the best management school from the private sector. It has the capability, efficiency and quality to compete with IIMs and international management schools. One can witness the unwavering determination and perseverance ongoing through the history of XLRI. Since the beginning, the founders and the management has been exploring new paths of education. And undertaking it successfully. The students from XLRI has been coming out with flying colours, wherever they were appointed.

Even though XLRI is placed at fourth position in the best MBA colleges in India, it gives tough competition to IIM L and other IIMs placed above it. The faculty members at XLRI, Jamshedpur is dedicated to instiling the students with the best of human traits such as ethical conduct, integrity, trust, social conscience, passion for excellence, innovative attitude and tolerance.


Indian Institute of Management, Indore (IIM-I)

The institute of national importance under Indian Institutes of Management 2017, IIM Indore was set up in 1996 as the sixth IIM. Functioning under the Ministry of Human Resource Development, the institute has been performing outstandingly since establishment.

Standing tall in the vast area of 193 acres and located on top of a beautiful hill, the institute is the ideal place where education meets nature. It provides students with a serene atmosphere that is conducive to learn and personal growth.

The institute has some of the best infrastructure facilities that aid in both psychological and physical development of the students. The governing body of IIM Indore has been conscious about technological advancements and all the latest technological features have been installed for e-learning.


Indian School of Business (ISB), Hyderabad

The visionaries conceived the idea for the Indian School of Business in 1995. The discussion to constitute the business school and develop it into an ideal school for management studies have been the target of the men behind the concept. The ISB board was formed in 1996 and the board established association with The Wharton School and The Kellogg School of Management in 1997.

After the first governing body meeting in 1998 in New York, the stone laying for ISB was undertaken in 1999. The school commenced operation in 2001 and Dr Pramath Sinha was appointed as the ISB's Founding Dean.

ISB has been educating students in various streams of business management for the past couple of decades. The business school has been nominated for awards in excellence in business education. And adjudged as one of the best business schools in India. The international quality ISB maintains has been lauded by the management experts.

Indian School of Business (ISB), Hyderabad is accredited to AACSB and EFMD EQUIS. And it has London School of Business, MIT School of Management and The Fletcher School as associate partners. In addition to Kellogg School of Management and Wharton University as founding associate schools.

ISB has been adding new courses and programs to its curriculum in the years of its operation. The school has been able to infuse zest and zeal in the students along with ethical human qualities. Believing in a practical-oriented approach, ISB has been scaling the heights of success.

The infrastructure of ISB has been winning praises from the students, parents and experts alike. The main academic centre has lecture theatres, classrooms, offices and Learning Resource Centre along with a suitably spaced auditorium.

The classrooms or lecture theatres have internet connectivity and Wi-Fi that will enable the students to connect with the world. Besides, the video conferencing is also facilitated for discussion on core issues and subjects with the experts across the globe.

The above list of best MBA colleges in India has been prepared to act as a guideline only. This is not intended to invalidate the other equally good business schools and management institutes in India.


PS: If you have any queries or suggestions regarding this article or ranking of the MBA colleges, you may contact us through the comment box below. We will consider your suggestion/ opinion and take necessary corrective measures as deemed right.