Desi B-schools make gains in QS rankings, but challenges remain

NEW DELHI: Indian business schools have made gains in the QS Global MBA, Business Master’s and Online MBA Rankings 2026 released on Wednesday, with three of them breaking into the list of world’s top 100 MBA schools and three others making their first appearance in the online MBA league table. Yet, experts caution that challenges relating to employability and return on investment continue to limit India’s global edge. The Indian Institute of Management (IIM) Bangalore retained its top national spot, climbing one place to 52nd rank globally – it reached its peak ranking of 44 in 2020. It posted its best-ever employability score, ranking 29th worldwide, and also improved on return on investment and thought leadership. IIM Ahmedabad rose to 58th rank, entering the world’s top 100 on four indicators (employability, return on investment, alumni outcomes, and thought leadership), while IIM Calcutta followed at 64th with a strong showing on employability and thought leadership. IIM Indore also improved its position, moving into the 151–200 bracket, its best performance since it first appeared on the list in 2022. In all, 14 Indian institutions made it to the global MBA table this year, with four improving, one stable, seven dropping, and two appearing for the first time. Woxsen School of Business debuted at joint 26th for diversity, topping Asia in this category. India also expanded its presence in the QS Business Master’s Rankings, with 37 programmes listed and 10 new entries. IIMs Bangalore (7), Ahmedabad (11), and Calcutta (12) all ranked within the world’s top 15 in Master’s in Management, underlining India’s growing strength in this specialised field. IIMs Lucknow (30), Kozhikode (48) and Indore (50) also figured in the top 50, though none of the country’s entries in finance managed to break into the top 200. A highlight was debutant TAPMI ranking 22nd on return on investment. For the first time, India entered the QS Online MBA Rankings. IIM Kozhikode debuted at 53rd, Manav Rachna International Institute of Research and Studies (MRIIRS) was in the 76–100 bracket, and Goa Institute of Management in 101+. All three institutions scored full marks for class experience, while MRIIRS earned a perfect completion rate. Globally, US schools continued to dominate the MBA rankings, with Wharton School reclaiming the top spot, followed by Harvard Business School, MIT Sloan and Stanford Graduate School of Business. Asia’s best performer was National University of Singapore, which was placed 23rd. Nunzio Quacquarelli, president, QS, said India’s performance reflected “significant strides”, noting that all four of India’s MBA entries improved this year, a feat unmatched by any other country. “However, challenges remain. Many global peers continue to outpace Indian providers in areas such as return on investment, employability, and student outcomes. Addressing these gaps will be crucial for India to fully realise its potential as a global hub for business education,” he added.