Management education in India is currently undergoing a significant transformation, with continuous alignment with the rapidly changing industry landscape and the rigours of the globally integrated economy. The framework, which evolved due to rapid industrialisation post WWII and through western models, received further impetus from the rapid growth of the service industry in the eighties and nineties. However, as India becomes a global force to be reckoned with in the economy and trade, management education here requires introspection and a revisit of curricula, pedagogy, quality, and contextualization. Management education is evolving from traditional, theory-heavy curricula to interdisciplinary, technology-governed, integrated, and human-centric models. Universities and institutions are emphasising practical experience, community orientation, and ethical leadership to prepare agile, resilient, and socially conscious professionals.
In India, with more than 5500 institutions offering an MBA degree or a Postgraduate Diploma in Management, there is a significant quality gap. There are top institutes like IIMA at one end of the spectrum and some nondescript institutions at the other. Low-quality institutions suffer from outdated curricula and pedagogy, a significant gap between academic learning and industry expectations, and inconsistent student quality. The biggest challenge is that the student is not industry-ready. Other key issues include a lack of a strong research culture, insufficient faculty development, a digital divide that hampers technology integration, and a reliance on theoretical exams over practical skills.
What is the way forward? There are a few essential steps everyone should take to improve the quality of management education and make our students industry-relevant. Technology integration, Blended learning models, greater academia-industry interface, and an Entrepreneurial focus provide solutions in the short and medium term. All these are encompassed in the National Education Policy 2020 (NEP 2020).
AI, machine learning, and data analytics are increasingly being incorporated into management curricula. NEP 2020 thrusts upon equipping our students with a range of skills, including critical thinking, problem-solving, teamwork, collaboration, empathy, sustainable solutions for the future, optimisation, and resource management. The post-pandemic era has accelerated the adoption of blended and online learning. Institutions should encourage this, as it offers students more flexible learning opportunities —a trend expected to continue.
There is greater emphasis on strengthening the academia-industry connection. Industry is expected to offer better and more internships and live projects. Academia, in turn, should invite corporate professionals into the curriculum finalisation to ensure management education remains relevant. In line with national priorities, Business schools are encouraging an entrepreneurial mindset and pursuits. NEP is driving a multidisciplinary teaching and research-oriented approach to management education.
However, the significant concern remains the skills gap, as reflected in industry expectations and the number of graduates queuing for placements. Ineffective curricula, the traditional teaching approach, a lack of high-quality faculty, and inadequate research funding affect student quality as an outcome. The cost of management education is also becoming a deterrent for talented individuals from lower-income strata of society.
A partial solution to the above problems lies in investing in faculty training and development, and in attracting and retaining the right talent. Additionally, deeper collaboration with the corporate sector through live projects, guest lectures, and joint research can significantly improve the relevance of management education. Concurrently, management institutions should focus on inculcating in students a sensitivity to business ethics, corporate governance, social issues, sustainability, and CSR.
Prof. Praveen Gupta
Director, LBSIM
