Top 20 GMAT Accepting Indian Business Schools for MBA
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While some students opt to study abroad, India has an excellent range of business school options for in-country MBA and other graduate management programs.
Whether you opt for a well-regarded government business school, or a private business school with an inventive curriculum, there are plenty of high-quality institutions and graduate management programs available – and many accept the GMAT score for entry.
India came second after China as the country with the highest number of people with postgraduate business and management degrees, according to the global diversity study conducted by the Graduate Management Admission Council (GMAC). The ‘Global Diversity of Talent – Attainment and Representation’ report looked at students pursuing these courses in 69 countries.
The study also found that India had the world's third largest share of global GMAT exam takers. While the CAT exam is the most popular MBA Entrance Exam in India, there are also numerous opportunities available among GMAT-accepting business schools in India.
There are more than 200 programs at more than 140 top business schools in India that accept GMAT scores in 2023, including some of the best MBA institutes in India. The GMAT-accepting schools in India generally attract candidates with work experience, making their target candidate more defined than the average CAT candidate.
So, which are the top GMAT-accepting colleges in India? Here is a list of top-ranked schools, according to the Indian Institutional Ranking Framework (IIRF) Ranking, that accept the GMAT for business and management study.
Top 10 GMAT-accepting public business schools in India
1. Indian Institute of Management (IIM) Ahmedabad
IIM Ahmedabad, located in the Gujarat region of north-west India, is a well-respected business school in-country and across the world. It is ranked first among management schools in India in the 2023 IIRF Ranking.
Of the MBA cohort, the students generally have between 1-2 years’ work experience, from sectors including IT, industrial, finance, and consulting. Graduates often land jobs in a range of sectors, including consulting and investment banking at top companies such as Boston Consulting Group (BCG), KPMG, and Goldman Sachs.
GMAT scores from Indian candidates are accepted for its full-time Postgraduate Program in Management for Executives. It also accepts GMAT scores for its full-time two-year MBA program from non-resident Indians (NRIs) or persons of Indian Origin (PIO) and Indian candidates who are based out of India and not able to take the CAT exam.
2. Indian Institute of Management (IIM) Bangalore
IIM Bangalore is located in the south of India, with an MBA class of 480 students it is ranked 3rd in India and 52nd globally in the Financial Times 2023 Global MBA rankings.
On average, students have 13-24 months of work experience before entry into IIM Bangalore, and they largely come from an engineering bachelor's degree. In the most recent placements, students largely entered the consulting sector, followed by sales and marketing. The top recruiters of the most recent graduating class were Amazon, Accenture, Bain & Company, and BCG.
IIM Bangalore accepts GMAT scores for its Executive Postgraduate Program in Management. This is an intensive, one-year, full-time residential program for experienced professionals, leading to an MBA. It is created specifically for professionals with remarkable track records and five to 12 years of work experience in a wide range of industries.
The institute also accepts GMAT scores for its full-time two-year MBA program from NRIs/PIOs and Indian candidates who are based out of India and unable to take the CAT exam.
3. Indian Institute of Management (IIM) Calcutta
IIM Calcutta is located in West Bengal, right on the eastern border of India. IIMC is made up of 552 students with varying experience, mainly from 0-24 months.
IIM Calcutta’s Executive MBA Program accepts GMAT scores from Indian candidates. This executive program has a strong emphasis on decision-making and leadership skills, with international immersion modules in the US and Europe.
The Executive MBA’s most recent placements saw the highest number of offers for roles consulting (32%), followed by product marketing (18%), then sales and marketing (11%), and finance (10%). Recruiters included Accenture, Axis Bank, and HSBC.
4. Indian Institute of Management (IIM) Lucknow
IIM Lucknow is located in north-east India, close to the Nepal border, and among its offerings are the Postgraduate Diploma in Management for which students’ work experience ranges from 0-48 months or more, averaging 25-36 months.
Of the 2022 graduating batch, students were offered positions at companies such as Accenture, Amazon, and BCG.
IIM Lucknow offers a two-year MBA for working executives, which accepts GMAT scores. It also accepts GMAT scores for its International Program in Management for Executives, a residential program designed for mid- to senior-level professionals.
5. Indian Institute of Management (IIM) Kozhikode
Located on the south-west coast of India, IIM Kozhikode is a well-respected school that accepts GMAT scores from candidates. Between 2020 to 2022, the batch profile had 546 students, 52% of whom were women with an average work experience of 24 months.
IIM Kozhikode has a 100% placement rate, with consulting the top industry, accounting for 41% of placements.
IIM Kozhikode’s MBA in Business Leadership and MBA in Finance accept GMAT scores for entry into the program. International applicants to the MBA program and Indian candidates who are based out of India and unable to take the CAT exam can also submit the GMAT to gain acceptance.
6.Indian Institute of Management (IIM) Indore
Located in northern India, IIM Indore was the second IIM in the nation to receive triple crown accreditation.
GMAT scores are accepted for its Executive MBA program from Indian candidates. It also accepts GMAT scores for its Doctoral Programs in Management for all candidates. Additionally, IIM Indore accepts GMAT scores for its full-time, two-year MBA program from NRI, PIO and Indian candidates who are based out of India and not able to take the CAT exam.
The Executive MBA program’s 2023-2024 class profile has 38 students, with an average of 8.5 years of work experience. Past recruiters have included Deloitte, Microsoft, and KPMG.
7. Indian Institute of Management (IIM) Udaipur
Located in the western state of Rajasthan, IIM Udaipur has a range of courses to choose from. Those that accept the GMAT include the one-year MBA in Digital Enterprise Management and the one-year MBA in Global Supply Chain Management.
If submitting a GMAT score for application, it must be from a test taken in the past five years. IIM Udaipur also specifies a bachelor’s degree/equivalent qualification in any discipline, and full-time work experience (after graduation) of minimum 36 months.
8. Indian Institute of Management (IIM) Tiruchirappalli
IIM Tiruchirappalli accepts GMAT scores for its Executive MBA program. While most candidates for the Executive MBA are required to take a written test, those with a valid GMAT or CAT score are exempt. There are, however, other application requirements including filling in a form and submitting application fees.
The Executive MBA program offers a variety of electives alongside its core courses, including Retail Management, Behavioral Finance, and Data Visualization for Managers.
9. Indian Institute of Management (IIM) Raipur
IIM Raipur accepts the GMAT score for its PhD program. The PhD program consists of numerous areas of specialization including Strategic Management, Finance and Accounting, Marketing Management, and Operations Management.
GMAT scores from the past two years are valid for entry.
10. Indian Institute of Management (IIM) Rohtak
IIM Rohtak has a selection of business management courses, including the Doctoral Program in Management (DPM), which accepts GMAT scores for entry.
Admission to IIM’s Doctoral Program is based on the academic qualifications, performance in the qualifying examination/tests, including the GMAT, personal interviews and work experience. The program is a full-time residential program for four years.
The institute is located in the National Capital Region and is close to industrial clusters.
10 top private business schools in India accepting GMAT
1. Xavier School of Management, Jamshedpur
Xavier School of Management (XLRI, formerly Xavier Labour Relations Institute) is a private business school in India accepting GMAT scores for its full-time Business and General Management Programs from Indian, non-resident Indian, or international candidates with five years’ work experience.
The 2023-2024 class of the Business Management program is made up of 232 students with an average of 19 months’ work experience.
2. Management Development Institute (MDI), Gurgaon
MDI Gurgaon was one of the earliest management and research institutions in India, meaning it boasts a strong network of alumni across the world. Currently, it has around 9,000 alumni working across 45 countries.
It is one of the top b-schools in India for recruiters and maintains a 100% placement record. In 2022, there were 87 recruiters, including 35 new, and 391 students placed.
It accepts GMAT scores for Indian candidates to its full-time Executive MBA Programs, in Business Management, Public Policy and Management, and Business Administration.
3. SP Jain Institute of Management & Research (SPJIMR), Mumbai
One of the top MBA colleges in India, SPJIMR has a unique program, including a three-week international immersion program in which participants travel to a globally top-ranked business school to learn experiential insights about evolving global business practices.
The school also offers top career opportunities. The 2021-2023 class's average Cost-to-Company (CTC) was INR 33.02 lakh per annum ($40,300), with 92% having a CTC of more than INR 25 LPA.
Fast-moving consumer goods (FMCG) firms were the highest recruiter on campus. FMCG firms recruited 35% of the batch, with offers from sector leaders such as Colgate-Palmolive, Unilever Limited, L’Oréal, and Nestle.
You need a bachelor’s degree with at least 50% marks or equivalent in any discipline from a recognized university to apply for the MBA. GMAT entrance scores are accepted, and both new graduates and candidates with a maximum of five years of work experience can apply for the program.
4. Institute of Management Technology (IMT), Ghaziabad
IMT Ghaziabad is one of the top schools in India that considers GMAT-taking candidates for both MBA and PGP Management programs. It boasts a diverse cohort with 43% of the batch from a non-engineering background, close to 40% with prior work experience, and representation from 25 states in India, with an average age of 23.
The 2021-2023 MBA class enjoyed a 13.4% CTC increase from the previous year in its placements across 150 companies. BFSI and IT/ ITES were the top recruiting sectors.
IMT Ghaziabad's requires students to take the GMAT four years before application.
5. TA Pai Management Institute (TAPMI), Manipal
TAPMI Manipal, which accepts GMAT for application to its MBA programs, has a strong alumni network with more than 5,000 scattered across the globe.
A specialized part of its curriculum is the TAPMI's Young Leader Program (YLP), which focused on developing leadership abilities through executive internship arrangements at reputed organizations.
6. MICA, Ahmedabad
Located in the north-west of India, MICA Ahmedabad is one of the top b-schools accepting GMAT scores to its business programs.
It has a strong reputation for strategic marketing and communication, and very good career opportunities. Its most recent class enjoyed a 100% placement rate with analytics, BFSI, and consulting emerging as the top sector with 39 offers.
7. Xavier Institute of Management (XIM), Bhubaneswar
XIMB has a diverse community of students from a range of backgrounds. The 2023 placement highlights has 356 students receiving placements in desirable sectors such as BFSI, IT, and consulting. Key roles offered were product manager, equity and credit analyst, and consultant.
Applicants for the MBA or the EMBA can apply with the GMAT.
8. Great Lakes Institute of Management, Chennai
The Great Lakes Institute of Management Postgraduate Program of Management and Research class is on average 26 years old and had an average of 3.4 years' work experience.
In the placement rounds, companies represented include Bank of America, Bosch, Samsung, PWC, and KPMG. GMAT is accepted for entry to the PGP Management.
9. International Management Institute (IMI), New Delhi
IMI's New Delhi's 2021-2023 business administration class came largely from engineering and commerce backgrounds.
More than 100 companies participated in the final placements 2021-23, ranging from sectors such as banking, financial services, BFSI; also consulting, e-commerce, edtech, FMCD, FMCG, IT/ITES, healthcare, manufacturing, and telecoms.
Candidates can apply using a GMAT score and their academic record.
10. FORE School of Management, New Delhi
In 2023, FORE School of Management had a class of 369 students, 40% of whom were female, who came from a variety of backgrounds, with 33% from marketing, 24% from finance, and 15% from international business.
In the final placements, there were 152 recruiting companies represented, 50 of which were new recruiters. Companies included Accenture, Barclays, and BMW.
The Postgraduate Diploma in Management (PGDM) accepts the GMAT.
MBA.com has used the IIRF Ranking to compile a list of the top 20 business schools in India that accept GMAT scores. A longer list of GMAT-accepting schools is available. This is not a full list of all GMAT-accepting programs but is meant as a snapshot. Additionally, while we endeavor to publish accurate information at time of publication, we encourage applicants to check the schools’ websites for full application requirements as these frequently change and are individual to each program and institute.