Local Turf, Global Reach

Why more and more business schools are striving for global accreditation

- Devika Singh

There are only about 20-odd international students in the top ten B-Schools in India. Not surprisingly, Indian B-Schools are pulling out all stops to secure global recognition for their brands. And that comes in the form of acquiring global accreditation.

In the universe of business management, accreditations from only three organisations really count – the Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs (AMBA), and the European Foundation for Management Development Quality Improvement System (EQUIS EFMD).

The Indian Institute of Management, Kolkata, is the only one that has secured the ‘triple crown’. All the other top-ranked B-Schools in India are trying too, but have only managed one or two of the three accreditations.

Ask the Founder and Dean of the Great Lakes Institute of Management, Chennai, Dr. Bala V. Balachandran, why there are hardly any foreign students in India’s top business schools and pat comes the reply - “Are IIMs globally respected institutions?” The octogenarian Professor Emeritus at the Kellogg School of Business Management, Illinois, does have a point.