Since 2020, the number of Indian business schools featured in the QS Global MBA Rankings has more than tripled. However, three leading Indian Institutes of Management (IIMs) have lost ground in the 2027 edition amid improved performance by global competitors in metrics such as return on investment and graduate outcomes.
The QS Global MBA Rankings 2027 included 19 Indian MBA providers, compared to five institutions in 2020 and seven in 2022. This year, five Indian educational institutions entered the ranking for the first time, while six maintained their positions from the previous edition.
IIM Bangalore, IIM Ahmedabad, and IIM Calcutta remain the only Indian institutions in the global top 100, but all have seen a decline in their overall rankings. IIM Bangalore dropped from 52nd to 64th place, IIM Ahmedabad from 58th to 70th, and IIM Calcutta from 64th to 95th place.
A detailed analysis of the ranking data showed a sharp deterioration in the standing of these three institutes regarding the return on investment (ROI) metric. The ROI ranking for IIM Bangalore fell into the 181-190 range from 53rd place, IIM Ahmedabad moved to the 171-180 range from 61st to 70th place, and IIM Calcutta dropped into the 201-250 range from 84th place.
Their positions also weakened in terms of entrepreneurship and graduate outcomes. IIM Bangalore shifted to the 161-170 range from 135-140, IIM Ahmedabad moved to 84th place from 75th, and IIM Calcutta moved to the 181-190 range from 158-160.
QS President Nunzio Quacquarelli emphasized the importance for institutions to compare their effectiveness with peers to maintain pace and implement innovations in areas valued by students and employers. He noted: 'The MBA market is changing, and providers are becoming more competitive. For Indian institutions, global competitors are ahead this year in key areas such as return on investment, entrepreneurship, and graduate outcomes. Although 10 positions from India improved in the thought leadership lens in 2027, it is important for providers to continue serving MBA students and helping them achieve career ambitions.'
Nevertheless, IIM Bangalore maintained its status as the highest-ranked MBA program in India for the fourth consecutive year. Its employment ranking remained at 29th globally, ranking second in Asia for this metric. Its thought leadership ranking improved to 51st place.
The expansion of India's representation in the MBA sector extended beyond traditional IIMs. O P Jindal Global University became the newest Indian participant with the highest rating, securing a spot in the 171-180 range. Jaipuria Institute of Management, CHRIST (Deemed to be University), Manav Rachna International Institute of Research and Studies, and Vikrant University Gwalior entered the 301+ range. The expansion covered not only full-time MBA programs; 28 Indian institutions are represented in the QS Global MBA and Business Master’s rankings. India had 41 specialized Business Master’s programs, two fewer than the 37 last year, including 19 in management, seven in business analytics and finance, five in marketing, and three in supply chain management.