India's best B Schools: Two IIMs continue to lead from the front

One encouraging piece of news for management education in India is the passage of the new Indian Institute of Management (IIM) Bill, 2017, in the Lok Sabha. Though yet to be ratified in the Rajya Sabha, the bill promises the country's elite management institutes greater autonomy. With increased autonomy, however, comes increased accountability, and the IIMs, along with over 3,000 management institutes, need to think of new ways to push excellence and make a greater impact, at home and globally.

One way to ensure accountability is to conduct periodic, independent evaluations of management institutes. The India Today Group study on the country's best business schools, conducted in association with Marketing and Development Research Associates (MDRA), is one such exercise, which over the years has emerged as the ultimate benchmark for management education in India. The 2017 results have some worrying news for the IIMs of the 22 across the country, only four found place among the top 10 and eight made it to the top 50. Two IIM Lucknow and IIM Bangalore did not participate in the survey.

Beyond the IIMs and perhaps a dozen other B schools, the scenario is even more bleak. Among the tens