Strangely enough, the biggest boom that the Indian economic reforms ushered in has not been very well reported: the business school explosion. As the private sector has upped and replaced the bureaucracy and public sector on all status-related parameters, as our vast middle class has turned radically materialistic and as India has proceeded stumbling into the global economy, a management degree has become the hottest and most coveted academic qualification in the country. For lakhs of youngsters and parents with stars in their eyes, the galaxies are spelt mba.
And, consequently, schools churning out mbas have proliferated.
B-schools in India can be divided into three broad categories: government-aided autonomous B-schools (the most famous of these being the Indian Institutes of Management, the iims), university B-schools and private B-schools. Among the iims, the ones at Ahmedabad, Bangalore, Calcutta and Lucknow are well-embedded in the Indian psyche and the two newcomers at Indore and Kozhikode have a bit of catching up to do.
University B-schools suffer from...