THE FUTURE IS IN THEIR HANDS

Business schools have a seminal role to play in building business leaders of tomorrow, one that will be led by technology

- Kaushik Deka

Management education in India has been on a transformative trajectory, evolving from a niche offering to being a critical component of the country's higher education landscape. With over 3,200 institutions and hundreds of thousands of students enrolling each year, management courses have become a cornerstone for aspiring business leaders. In contrast to global trends, where applications to MBA programmes have dropped by over 8 per cent in recent years, India has witnessed a surge. More than 330,000 candidates registered for the Common Admission Test (CAT) in 2023, a 30 per cent rise from the previous year. Reflecting this increased interest, the intake at the top 100 business schools expanded by 15 per cent in 2023-24.

As India grows into its role as a rising economic giant, the need for adept managers capable of navigating the complexities of a globalised business environment has never been greater. According to the online professional network LinkedIn, the share of senior leaders hired with an MBA has grown by 25 per cent globally since 2010. That is something the India Skills Report 2024 also bears out: MBA graduates enjoy an employability rate of 71.2 per cent, significantly outpacing other disciplines. This underscores the enduring value of management education in shaping the future of work.

However, the rapid proliferation of management institutes in India has come with significant challenges, particularly in maintaining consistent quality, adequate infrastructure and alignment with the ever-evolving demands of industry. In this shifting landscape, the India Today Group MDRA Best Business Schools Survey has emerged as a crucial compass to guide students, educators and recruiters. By evaluating institutions on key parameters such as academic rigour, faculty expertise, industry engagement and technological innovation, the annual survey acts as a reliable framework to make informed choices in a competitive educational market.