During a recent interaction, I asked the director of IIM Bangalore which ranking does his institute looks forward to be part of. He replied that one national ranking (NIRF) and one international (FT business school rankings) are enough.
This is a view shared by most business schools in India, eight of which got featured in the latest FT MBA 2025 rankings. A former IIM director told FE that taking part in too many rankings can shift the focus away from excellence in education, but NIRF and FT are important because they give a clear idea of your standing vis-à-vis others.
In the FT MBA 2025 rankings released on February 16, the Indian School of Business (ISB) was ranked the country’s best, and 27th in the world. It was followed by IIM Ahmedabad (31st in the world), IIM Bangalore (57th), IIM Calcutta (61st), IIM Indore (69th), IIM Lucknow (71st), XLRI – Xavier School of Management (83rd), and IIM Kozhikode (86th).
Prof Debashis Chatterjee, director, IIM Kozhikode, is of the opinion that the parameters FT rankings use (such as salary growth, career progress, diversity, value for money, and research excellence) take into account not only the data submitted by participating institutes, but also give due weightage to participant responses. “All these factors contribute to FT rankings being considered as the most accurate credentials for top MBA colleges and courses in the world,” he had told FE earlier.
On FT rankings vis-à-vis the management component of NIRF, Prof Chatterjee added that the methods of NIRF are also transparent (it is conducted by the Ministry of Education). “While NIRF gives a definite advantage to B-schools within India, we can use FT rankings for internationalisation of admissions, placements, student exchange, faculty exchange etc, and contribute in making India the study capital of the world,” he said.
This year, IIMK’s Post Graduate Programme in Business Leadership (PGP-BL) – which is only in its fifth batch – debuted in FT rankings. This recognition follows its recent entry into the QS Global MBA 2025 Rankings.
Prof Chatterjee added that it’s a defining moment for IIMK. “The PGP-BL was envisioned as a transformative leadership programme, and its rapid rise in international rankings underscores the impact we are creating,” he said.
The best Indian B-school this year is the ISB, and Prof Deepa Mani, deputy dean, Academic Programmes & Digital Learning, told FE that the rise in FT rankings reflects the B-school’s steadfast focus on innovation and adaptability. “Last year, we undertook a comprehensive curriculum review for our flagship PGP in Management, and launched a new PGP for Young Leaders in keeping with our mission to develop leaders who can manage the evolving business landscape in India and globally,” she said. “The FT rankings recognition motivates us to set new benchmarks in management education. The fact that we are ranked 23rd in carbon footprint showcases that the ISB is playing its role in facilitating a greener India.”
Although the ISB jumped four ranks from last year’s 31st to this year’s 27th, it was ranked second globally in salary percentage increase, and fourth globally in alumni network. Within the Asian region, the ISB has been ranked fifth.
FT is not a single ranking released once a year like NIRF. Instead, it keeps ranking B-schools across the year on multiple aspects, such as Online MBA, Global MBA, Executive Education, Masters in Finance, Masters in Management, and so on.
Only those B-schools accredited by the AACSB (Association to Advance Collegiate Schools of Business in the United States), and the EQUIS (EFMD Quality Improvement System in Belgium) are considered.
Last year, six B-schools from India were part of FT MBA Ranking – the ISB at 31st, IIM Ahmedabad at 41st, IIM Bangalore at 47th, IIM Calcutta at 67th, IIM Lucknow at 85th, and XLRI – Xavier School of Management at 99th.