The Indian School of Business (ISB) is the first business school from India to get ranked among the top 100 B-schools in the world, according to the annual Financial Times listing. It is at No. 20 (see Page 4).
There are two lessons here. First, ISB has made it to the top 20, a Chinese business school is at No. 11 and four European schools are in the top 10. All this suggests that there could be a power shift in management education, with the US having to share more space with schools from Europe and Asia.
Second, ISB’s success is a story of hope. Contemporary India has never quite matched the Nehru era when it comes to institution building. ISB promised to be a path-breaking venture. It was funded with private money, built to match the best in the world, and was nurtured in its early years by a very good start-up team. Others in the private sector need to try to emulate its early success.