GMAC is planning to develop MBA education hub in India in order to attract foreign students in India. The council has partnered with three IIMs and other leading B - Schools.
The international organization which heads business schools, Graduate Management Admission Council, which is also GMAT exam administrator, has recently collaborated with 9 leading management institutes in India in order to make India a perfect place for MBA education.
As per the reports coming in, GMAC is all set to target 27 countries which include France, Germany and various other countries from Africa and Asia continent. In words of Sangeet Chowfla, GMAC President,
“We took it upon ourselves to start working with Indian business schools to market India as a study destination.”
There are three Indian Institutes of Management which have partnered with GMAC including IIM Indore, IIM Ahmedabad and IIM Bangalore. Apart from these, there are other leading B – schools of the country such as Xavier University Bhubaneswar (XUB), IMT Ghazaibad, Narsee Monjee Institute of Management Studies (NMIMS), SP Jain Institute of Management & Research (SPJIMR) and Indian School of Business (ISB).
This initiative is to be taken in order to make India as an attractive study destination for higher education in countries of Middle East, South East, East Asia, Africa etc. The organization is in conversation with the directive of Ministry of Human Resource Development. GMAC President Mr Chowfla was reported saying that India isn’t considered as a study destination on the same lines as western countries or even Singapore, Hong Kong and increasingly Shanghai are. Hence, GMAC is planning to bring some changes in the scenario.
There is a link ‘Study in India’ on the official website of GMAT exam (Graduate Management Admission Test) mba.com, which the international students are looking forward to study management courses. The link gives the students information regarding the country and famous B – schools. The consortium of schools talks about India in a collective voice. This is a first – of – its – kind program which Reston, a Virginia – based GMAC has implemented in the world.
The Council heads and directs GMAT which is a special test which is conducted exclusively for management and business courses at graduate level. There are over hundred member schools from countries like UK, India, China, France, and Australia etc.
Mr Chowfla has stated that after Brexit and US elections, the students from all over the globe are now looking for some other place to study business and management other than UK and US only. “Quality education schools have developed now. If you look at the global rankings from 20 years ago, it was a mix of US and UK schools. Today, the list includes schools from all over the world.”
In words of Mr Chowfla, one of the important reasons why the council wants to experiment with India is because of India’s increasing relevance with the rest of the world and the multinational companies. The reason is strong enough to start this process to market India as a global education destination for business and management courses. The country’s industrial setup has relevancy with several other countries of the world which are emerging. He said,
“Yes, potential students can go to the US and learn things like derivative finance. But those aren’t even available in their own country. We (India) are much more relevant that point of view. ‘Study in India’ will cover topics and issues such as details of Indian visas, security and food in the country."
In addition with this, all the 9 business schools will be giving stories of themselves in order to help the students that school in terms of the students who are already studying there. The schools have recorded interviews and videos of domestic and foreign students who are studying there, where they are sharing their views regarding their social and educational experience in the school.
According to Mr Chowfla,
“This initiative will not just benefit international students aspiring to study here but also the domestic students of MBA. If you think about business education to other education etc., you learn more from each other than you learn from professors. Getting the right mix of students including foreign students into India as a way to earn additional revenues, but the quality of education for India students becomes dramatically better when they study with students from foreign countries.”
The Chief Marketing and Development Officer at IIM Bangalore, VK Menon has said that ‘Study In India’ will surely bring enhancement in the diversity of our students, who can look forward to developing as global business leaders.”
The Academic Dean at IIM Indore, Kamal Jain has said that the initiative will surely be an authentic source of information. This is an opportunity for international students to be a part of contextually relevant business schools that develops socially conscious managers, leaders and entrepreneurs.
According to Assistant Dean of Indian School of Business, Munish Sapra,
“We are confident that it will contribute to the existing diverse international classroom and strengthen India’s position on the global management education space. International students coming through this initiative will get a chance to interact with top – notch faculty.”