What Are The Best MBA Colleges In India In 2023?

Indian candidates researching a business school for application in 2023-24 take note. The Indian Institutional Ranking Framework (IIRF) has recently released the 2023 list of Top MBA Colleges (Business Schools). This makes a good starting point for your b-school research.

Three government backed Indian Institutes of Management come out top in the overall IIRF MBA ranking, with IIM Ahmedabad, IIM Calcutta and IIM Bangalore standing in joint first position. Ranked in second place are the Faculty of Management at the University of Delhi­ —another state school—along with the top-ranked private institution, the Indian School of Business (ISB), the Indian Institute of Foreign Trade (IIFT), IIM Lucknow, and XLRI Jamshedpur.

Top 20 MBA Colleges In India (Overall) 

The IIRF MBA ranking lists more than 60 business schools among its top 20 MBA colleges overall, with many schools tying for places. 

Ranking criteria

The IIFR MBA Ranking is based on seven criteria: research, teaching, industry income, placement performance, placement strategies, future orientation, reputation and international outlook.

It is published by Education Post, a monthly magazine on higher education. The Federation for World Academics (FWA) directs the methodology and provides feedback to the IIRF Center for Institutional Research (ICIR) in India.

"The IIRF ranking system is an excellent way to measure the quality of MBA programs offered by different institutions,” said Dr Ashwani Kumar Varshney, dean (Students Welfare), Jaipuria Institute of Management, which ranked 14^th in the overall ranking.

He added: "The [IIRF] MBA ranking system is a great way to compare the quality of MBA programs offered by different institutions. This year's rankings have been based on criteria such as graduation rates, job placement, average starting salaries, and student satisfaction. The overall results of this year's ranking show that the top-performing institutions have excellent programs that provide students with the skills and knowledge they need to succeed in the business world." 

READ: What’s The Cost Of An MBA In India In 2023?

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Top 20 MBA Colleges In India (Government) 

IIM Ahmedabad holds the first position in government or state MBA colleges in India, followed by IIM Bengaluru and IIM Kolkata in second and third position respectively. In the Private category, XLRI, Jamshedpur has taken over the first position, while MDI, Gurgaon, and Symbiosis Institute of Business Management, Pune holds second and third position respectively.

Top 20 MBA Colleges In India (Private) 

Xavier Labour Relations Institute (XLRI), Jamshedpur, or XLRI Jamshedpur is the top private MBA college in the country. It is also the oldest business school in India, and was founded in 1949.