Indian institutes are increasingly applying for international accreditation, including from bodies like the Association to Advance Collegiate Schools of Business (AACSB), Association of MBAs (AMBA) and EQUIS, for getting into the list of global schools having coveted accreditation.
International Management Institute, Delhi, recently got the AMBA accreditation and is planning to apply for AACSB. Pritam Singh, director general, IMI, said they were one of the few institutes to get AMBA. “It is prestigious to have an international accreditation, as it proves you have standards matching the global level,” he said.
While applications for AACSB have increased, getting an accreditation may not be easy. According to Gurumurthy Kalyanaram, dean, University Research at Narsee Monjee Institute of Management Studies (NMIMS), and professor and management consultant, very few Indian Institute of Managements (IIMs) have applied for AACSB and even if they do, it be may be challenging to get the accreditation.
AMBA has also seen a rise in applications. Carol Turner, spokesperson for AMBA, said five business schools in India have received AMBA accreditation — IIM-Kozhikode, IIM-Lucknow, IMI, Delhi, Management Development Institute, Gurgaon, and SP Jain Institute of Management and Research.