India's leading business schools, the Indian Institutes of Management (IIMs) in Bangalore, Ahmedabad, and Calcutta, have experienced a notable decline in the latest QS Global MBA and Business Master's Rankings 2027. The shift highlights increasing competition and specific areas where global peers are outperforming Indian institutions.
Significant Drops for Top IIMs
IIM Bangalore, while still India's highest-ranked MBA institution, fell 12 places to joint 64th globally. IIM Ahmedabad also saw a 12-place drop, landing at joint 70th. The sharpest decline was recorded by IIM Calcutta, which plummeted 31 places to joint 95th in the global list.
Despite these overall drops, all three IIMs maintained strong positions in terms of employability. IIM Bangalore ranked 29th globally and second in Asia for this indicator, with IIM Ahmedabad at 35th and IIM Calcutta at 39th. These scores significantly outpace their overall global rankings, indicating a robust reputation for producing employable graduates.
Key Factors Behind the Decline
The primary reasons for the slip appear to be substantial declines in 'value for money' and ongoing challenges in 'entrepreneurship and alumni outcomes' measures. IIM Bangalore's value for money score dropped from 91 to 57.4, IIM Ahmedabad's from 88.9 to 60.5, and IIM Calcutta's from 78.9 to 53.3.
QS President Nunzio Quacquarelli commented, "Global peers were outperforming Indian business schools in areas including return on investment, entrepreneurship and alumni outcomes, making the MBA market increasingly competitive."
In terms of entrepreneurship and alumni outcomes, IIM Ahmedabad was the only Indian MBA program to make the global top 100, ranking 84th. IIM Bangalore was placed in the 161–170 band, and IIM Calcutta in the 181–190 band, underscoring areas for improvement in fostering entrepreneurial success and leveraging alumni networks.
Broader Context for Indian MBA Programs
While the top three IIMs faced setbacks, India's overall presence in the global MBA rankings has expanded significantly. The 2027 rankings include 19 Indian MBA entries, a considerable increase from just five in 2020, with five new entrants this year. However, among the 14 returning Indian MBA programs, eight moved down or retained their previous rank, while none moved up, indicating a growing challenge for Indian business schools to translate their academic and employability strengths into higher global standings across all parameters.