Top 10 Management Colleges In India - NIRF Ranking 2023

With the release of NIRF 2023 rankings, the daunting task of best university selection has been sorted for many students. NIRF releases its rankings in 11 categories but in this article, we will discuss the management categories & its top 10 listings.

After graduation, most of us opt for a management master’s program to avail some promising & rewarding professional paths. Along with the course & specialization, the choice of university is one of the critical factors that can impact our career journey greatly. 

The positive environment of the university, quality of education, innovative research, infrastructure, qualification of faculty members, etc. play a vital role in developing a creative mindset in young business aspirants. Thus, NIRF rankings that consider all of these factors are one of the easy & safest ways to choose the best management institution for you!

Background of NIRF

We all are familiar with the former education quality in India, in the direction of improving this scenario, the government of India took an initiative in 2014 by organizing a workshop on the evolving methodologies in higher education. A core committee of 16 members appointed by the Ministry of Education was then formed that was given the task to evaluate the functioning of universities & colleges in different terms to improvise the academic quality offered by them. 

In 2016, the government of India released its first National Institutional Ranking Framework (NIRF) list of universities & colleges. This ranking accounted even for those parameters that made the Indian institutions mark their spot in the world ranking systems like Quacquarelli Symonds (QS) and Times Higher Education (THE).

NIRF Ranking Parameters & Weightage For Management Category

The NIRF ranking of institutions is based on various factors that ensure the quality of higher education. For management category ranking, different aspects of academics are evaluated to decide on the best B-school in India.

The components comprising these parameters & their contribution weightage are encapsulated in the table below to provide you with the clarity of evaluation methodologies used by NIRF.

Parameters	Components	Assesment Criterion	Total Marks	Weightage
Teaching, Learning & Resources (TLR)	Student Strength (SS) including Ph.D. Students Faculty-Student Ratio (FSR) with a focus on permanent faculty Faculty with Ph.D. (or equivalent) and experience (FQE) Financial Resources and their Utilization (FRU)	TLR = SS(20)+FSR(30)+FQE(20)+FRU(30)	100	0.30
Research and Professional Practice (RP)	Publications (PU) Quality of Publications (QP) The footprint of Projects, Professional Practice, and Executive Development Programs (FPPP)	RP = PU (40) + QP(40) + FPPP(20)	100	0.30
Graduation Outcomes (GO)	Placement and Higher Studies (GPH) University Examinations (GUE) Median Salary (GMS)	GO = GPH(40) + GUE(20) + GMS(40)	100	0.20
Outreach and Inclusivity (OI)	Students from other States or Region Diversity (RD) Women Diversity (WD) Participation of Economically and Socially Challenged Students (ESCS) Facilities for Physically Challenged Students (FCS)	OI = RD(30) + WD(30) +ESCS(20) + PCS(20)	100	0.10
Perception (PR)	Reviews of Employers & Academic Peers	PR	100	0.10

Top 10 Management Universities in India: NIRF 2023 Ranking

The management category of NIRF provides you with a list of the best MBA universities/institutions in India that makes you achieve global-level academic excellence in management studies. As per the above-mentioned evaluation criteria, B-schools in India that made it in the top 10 rankings of NIRF 2023 are provided here.

Management Universities	City, State	NIRF 2023 Score	NIRF 2023 Rank	NIRF 2022 Rank
Indian Institute of Management Ahmedabad	Ahmedabad, Gujarat	83.20	1	1
Indian Institute of Management Bangalore	Bengaluru, Karnataka	80.89	2	2
Indian Institute of Management Kozhikode	Kozhikode, Kerala	76.48	3	5
Indian Institute of Management Calcutta	Kolkata, West Bengal	75.53	4	3
Indian Institute of Technology Delhi	New Delhi, Delhi	74.11	5	4
Indian Institute of Management Lucknow	Lucknow, Uttar Pradesh	74.11	6	6
National Institute of Industrial Engineering	Mumbai, Maharashtra	71.99	7	9
Indian Institute of Management Indore	Indore, Madhya Pradesh	71.95	8	7
XLRI-Xavier School of Management	Jamshedpur, Jharkhand	70.75	9	8
Indian Institute of Technology Bombay	Mumbai, Maharashtra	68.11	10	11

After getting an idea of the top 10 B-schools, let us look at some of the important aspects that you must look for before finalizing one of them for completing your higher education in the management field. The important factors that must be considered for university selection include accreditations & awards of the university, design of the course curricula, programs offered, qualifications of the faculty members, etc.

A brief introduction to the top 10 management universities in India is provided here to make you understand the impact they are creating on the young business minds within the country.

1) Indian Institute of Management Ahmedabad (IIM Ahmedabad)

IIM Ahmedabad, the No.1 B-School in India, is known for providing a standard quality education in the management field. It maintained its first position in NIRF 2023 rankings just like NIRF 2022 in the management category. It was established in 1961 with the support of Govt. of India. It offers a diversified range of master’s degree courses in management (MBA) & agricultural domains along with some fellowship & executive training programs.

IIM Ahmedabad is accredited by European Quality Improvement System (EQUIS), an international school accreditation system. It ranked at 62nd position in the Global MBA Ranking 2022 by the Financial Times & scored 44th position in the QS Global MBA Rankings 2023.  IIM Ahmedabad was also awarded as “Institute of National Importance” by MHRD, Govt. of India in 2017.

In the direction of making young business professionals in India equipped with emerging technicalities & methods, IIM Ahmedabad has also introduced some online executive training programs. These online programs are designed to bridge the gap between informational knowledge & practical implementations in business professionals.

2) Indian Institute of Management Bangalore (IIM Bangalore)

IIM Bangalore is the third IIM founded in 1973 after IIM Ahmedabad & IIM Calcutta. With its tech-drive course contents, it has deeply impacted the social well-being in India. It again marked its spot at second position in NIRF 2023 rankings just like it did in NIRF 2022 in the management category. This university is known to deliver quality education via its postgraduate management programs (MBA), doctoral courses, executive education, & certificate programs. 

IIM Bangalore holds EQUIS accreditation for providing an international level of business education. The university made it in the Financial Times’s Top Global MBA Ranking 2022 by ranking at 53rd position. It also bagged 50th rank in the QS Global MBA Rankings 2023. 

To make quality education accessible to all, IIM Bangalore offers a diversified range of Massive Open Online Courses (MOOCs). These programs equip the Indian workforce with emerging technicalities of the business domain to make them achieve advancements in their careers.

3) Indian Institute of Management Kozhikode (IIM Kozhikode)

Established in 1996, IIM Kozhikode was the fifth IIM set up by the Govt. of India. With accreditations from the Association of MBAs (AMBA) & EQUIS, this institution provides a global-level education in management studies. In NIRF 2023 rankings, IIM Kozhikode got ranked up to 3rd position from the 5th rank in NIRF 2022 in the management category. The innovative curriculum design of the regular MBA, part-time postgraduate programs (PGP), doctoral courses, & executive postgraduate programs (ePGP) is one of the main highlights of this institution.

Because of its research-oriented & technical learning modules, the IIM Kozhikode is the only IIM that made it to the Atal Ranking of Institutions on Innovation Achievements (ARIIA). 

IIM Kozhikode is known as the pioneer of the Interactive-Learning (I-L) Program for working executives in India. These online executive programs are focused on making business executives proficient in their work field by providing them with thorough training on analytical tools & by developing strong business skills in them. 

4) Indian Institute of Management Calcutta (IIM Calcutta)

IIM Calcutta is the first IIM established in 1961 in India under the guidance of Govt. of India. It is renowned for providing excellence in the field of business & management via its innovative program list including full-time MBA, PGDM courses, executive MBAs, & doctoral management programs. IIM Calcutta secured 4th position in NIRF 2023 rankings which is one position lower than its NIRF 2022 ranking in the management category.

IIM Calcutta holds triple accreditation of the AMBA, Association to Advance Collegiate Schools of Business (AACSB), & EQUIS. It is also an active member of the Global Alliance in Management Education (CEMS) which gives a global reputation to its management programs. In the Financial Times’s Top Global MBA Ranking 2022, IIM Calcutta ranked at 42nd position. 

IIM Calcutta’s executive programs are designed to spread a standard quality of higher management education to the business professionals serving at any job designation in any sector. In making this learning journey feasible for executives, the institution has started offering short & long-term development programs in online mode.

5) Indian Institute of Technology Delhi (IIT Delhi)

IIT Delhi is one of the prestigious institutions in India known for offering next-level education in the fields of science, engineering, and technology, & business administration. It was established in 1961 & got awarded the “Institution of National Importance” in 2018 by the Govt. of India. It secured 5th rank in NIRF 2023 which is one rank lower than the NIRF 2022 rankings in the management category.

Apart from the engineering programs (B.Tech & M.Tech), the management program (MBA) of IIT Delhi has bagged the 5th position in the NIRF 2023 ranking. The institution made it to the Academic Ranking of World Universities in 2023 by scoring the position in the band of 701–800. IIT Delhi is accredited by the National Assessment and Accreditation Council (NAAC) with an “A” grade which makes it mark its spot in the best institution category in India.

The innovative learning techniques incorporated in the course curriculum of IIT Delhi’s MBA programs are quite beneficial in equipping the executives, managers, & entrepreneurs of the business domain with emerging technologies. The career prospects after earning the alumni status of IIT Delhi are pretty cast & can land you your job in the national & international markets.

6) Indian Institute of Management Lucknow (IIM Lucknow)

IIM Lucknow is the fourth IIM established in 1984 by the Govt. of India. It serves as a mentor for newly founded IIMs like IIM Rohtak, IIM Jammu, & IIM Kashipur. The quality of education offered by this institution is something that has made it bag the crown of triple accreditation, i.e., AMBA, AACSB, & EQUIS. IIM Lucknow maintained its 6th rank in both NIRF 2023 & NIRF 2022 rankings in the management category.

The list of management programs available at IIM Lucknow consists of MBA, postgraduate programs for executives, fellow programs, executive education, & doctoral programs. All of these programs are primarily focused on making management aspirants equipped with the skills & technicalities to deal with the complexity of today’s business world.

In the direction of training business executives with a standard-level technical education, IIM Lucknow has launched a varied number of short-term online & blended courses. These courses are designed in a way that fits right into the tight schedules of working professionals & makes them learn the newest tools emerging in the management field.

7) National Institute of Industrial Engineering (NITIE)

Govt. of India in collaboration with the United Nations Development Programme (UNDP) founded NITIE in 1963 to skill the professionals of different sectors with the right methodologies & tools. The institution offers a wide range of postgraduate programs in engineering & management fields. 

Because of the industry-oriented & innovative program structures, NITIE leveled up at the 7th rank in NIRF 2023 from its 9th rank in NIRF 2022 in the management category. The university is accredited by the All India Council For Technical Education (AICTE) & hence all of its technical programs are accepted globally.

NITIE offers executive diploma courses in collaboration with IIT Delhi to make technical higher-level education accessible to all. Above all, its short-term Management Development Programs (MDPs) and the unit-based programs (UBPs) in Industrial Engineering & Management sectors have benefitted the workforce within the country & provided them with expertise in their work domain. 

8) Indian Institute of Management Indore (IIM Indore)

The government of India introduced the sixth member of IIMs in 1996 in the name of IIM Indore. The list of management programs of IIM Indore comprises a list of postgraduate programs, executive postgraduate programs, integrated management programs, fellow management programs, & short-term executive courses. This year IIM Indore dropped to 8th rank in NIRF 2023 from 7th rank in NIRF 2022 in the management category.

IIM Indore holds triple accreditation of AMBA, AACSB, & EQUIS & thus, holds a global reputation for providing research-based higher management education. The educational services offered by the institution add value to the growth rate of organizations with an immediate impact.

To cater to the needs of executives, the institution has launched online learning portals to provide them with an immersive learning experience. The short-term executive management courses offer the same level of learning outcomes as offered in regular courses at the institution.

9) Xavier School of Management (XLRI)

XLRI is one of the oldest business schools in India founded in 1949 in the steel city of Jamshedpur. The institution offers a wide range of management courses that differ based on the course duration. 

XLRI holds academic affiliations from AMBA & AACSB. Moreover, its postgraduate diploma programs are recognized by the Association of Indian Universities (AIU) & government of India (GOI). XLRI secured one rank lower than its NIRF 2022 ranking in the NIRF 2023 & made it to the 9th rank in the management category.

The online programs of XLRI are industry-recognized & highly considered by national & international employers. Working professionals who are in need to jumpstart their careers can improvise their critical thinking abilities & decision-making skills via innovative learning modules of XLRI.

10) Indian Institute of Technology Bombay (IIT Bombay)

IIT Bombay is another popular name in the STEM field for providing value-based higher education. It was founded in 1958 & received the award of “Institution of National Importance” by Parliament in 1961. 

IIT Bombay is recognized by the MHRD, Govt. of India & has ranked at 172nd position in the QS Global University Rankings 2023. Thus, the programs offered by the institution in different domains are very well recognized in the industries at the global level. IIT Bombay made it to the list of top 10 management universities which was missed in NIRF 2022 by one rank.

IIT Bombay has also marked its presence in the niche of online education by providing innovative learning methodologies & hi-tech course content. The short-term courses launched by it have provided business professionals with a chance to enhance their knowledge with research-oriented curricula.

How to enroll with the best management universities in India?

After getting enlightened with the knowledge on the best management universities, let us give you a brief on how can you become a part of them. Well, the process is not that tough but does demand a high level of sincerity & seriousness. 

All of the above-mentioned management universities conduct some common tests or entrance exams to judge your potential for the aspiring management program. These tests are a mix of aptitude & subject-specific questions some specific criteria needed to be fulfilled before filling up the form for them. Some common management or MBA entrance exams are listed below with their minimum eligibility requirements.

MBA Entrance Exams	Eligibility Criteria
Andhra Pradesh Integrated Common Entrance Test (AP ICET)	Graduation from a recognized university with a minimum of 50% marks.
Management Aptitude Test (MAT)	Graduation from a recognized university in any discipline.
Common Admission Test (CAT)	Graduation with a minimum 50% aggregate of marks from a recognized university.
Xavier Aptitude Test (XAT)	Bachelor’s degree holders of recognized universities from any discipline.
Common Management Admission Test (CMAT)	Graduated or Final year students of graduation from a recognized university.
Symbiosis National Aptitude Test (SNAP)	Graduation from an authentic university with at least 50% marks.
NMIMS Management Aptitude Test (NMAT)	Graduation with 50% or more marks. A minimum of 2 years of work experience is preferred.
ICFAI Business Studies Aptitude Test (IBSAT)	Bachelor’s degree holders from any stream from an accredited university.

Conclusion

Finalizing a university becomes a tedious task when you are not aware of the facts that you need to consider for it. NIRF rankings not only make you understand the order of best institutions but also enlightens you about the other innovative aspects that the institutions are taking nowadays to facilitate the learning methodologies for their learners. 

Above all, the initiative of these top management universities to make quality education accessible for all has created a deep impact on society. The choice of best B-schools for online learning has improvised the career paths of millions of masses already serving the business domain at different job profiles. 

The niche of online education & its availability at the best universities has made the saying of Nelson Mandela, “It is not beyond our power to create a world in which all children have access to good education” become true.