The beginning of management as a professional course can be traced back from as early as 1949 when Xavier Labour Research Institute (XLRI) was opened in Jamshedpur offering Post Graduate Diplomas in Business Administration, Personnel Management and Industrial Relations. To this were added Symbiosis Institute of Business Management (SIBM), Indian School of Business (ISB) Hyderabad, Faculty of Management Studies (FMS) an affiliate of Delhi
University, Indian Institute of Foreign Trade (IIFT), one of the top institutes of India under the Ministry of Commerce, Indian Institute of Management with six centers including the one
Bangalore, Management Development Institute (MDI).
Institute of Rural Management (IRMA) in Gujarat. IRMA, founded in 1979, is a joint venture of National Dairy Development Board and Government of India, Government of Gujarat and Swiss Development Cooperation. Business administration and management courses demand special facilities at the college aspiring to offer these courses. Entrance tests for MBA are attempted by nearly 2 lakh students, every year though the number of seats available at IIM and its affiliates or franchisees does not cross 2000 mark. The driving factor behind rapidly increasing MBA aspirants is that business houses and industries are insisting on these MBAs from reputed institutions. India has been growing as a popular destiny for aspiring management students.
Indian Institue of Management established by Government of India in 1985 has centers in Ahmedabad, Bangalore, Kolkata, Lucknow, Kozhikode and Indore. The Institute had initial collaboration with Harvard Business School which has left its mark and influence on Institute’s approach to education to eventually propel it into a confluence of the best of Eastern and Western values.
However, there are several other institutes and colleges offering high standard professional courses. Of late, the salaries offered by multi national companies for an MBA from IIMs, especially Ahmedabad or Bangalore varies from Rs 88 lakh to Rs 1.05 crore per annum.
Recently, overseas management schools have started flooding into India. Management courses through distance education, on-line courses have also started sprouting. Caution is necessary to be exercised by the students aspiring to take up these courses with regard to recognition rather than fees structure which will usually be very high. Even though the process of examination, curriculum and various other factors appear to be very conducive, attractive and inspiring, it would be better to consult some experts about the course they are attempting to take up before taking a final decision.