With the advent of the tremendous boom in the business world, many top notch b-schools make it a point to provide the best ever educational facilities, keeping tabs with the growing demand for MBA professionals and aspirants altogether. While many may prioritise the foreign mode of pursuing their MBA course, whereas many might swear on the Indian methodology, and choose to pursue their MBA in India.
So what is it that makes India stand out in this arena? In other words, why should we pursue our MBA degree from India? Let us explore some reasons as to why an MBA degree should be pursued in India.
The Cost Factor
The obvious reason of costs involving a comparison between pursuing an MBA course in India to that of abroad. The postgraduate-degree pay package of an American or European MBA will be considerably higher than that of a student who did his MBA in India, largely because of the currency difference. Also, pursuing a foreign MBA degree is more expensive in the sense that it may take more time to recover the fees of the business degree, accommodation costs being an entirely different expenditure altogether, besides the daily living costs too. An MBA in India overcomes this problem effectively, where even if someone isn’t residing in the particular city where the course is being offered, the living costs, as well as the education fees, are far more less expensive.
Pertains to the Indian Market
The Indian market functions in an extremely different than that of a US or European market, and therefore, the various principles and methodology which we learn in a foreign B-School would be hardly applicable in the Indian market. And therefore, for those who wish to work in India after pursuing their MBA in India, a foreign MBA is less preferable. An MBA in India degree goes way ahead in ensuring that we gain knowledge and skills related to the business arena basically which focuses and is pertinent to the Indian market. And hence, an Indian MBA is preferred from various perspectives, social and economic, as well as knowledge and skill development perspectives.
The growing potential in the Indian Market
It would be a fairly difficult task to justify the fact of travelling overseas and paying truckloads of money for an MBA in India degree when the social, economic and political scenario here at our home country are tremendously great and growing at a fast pace. The truth is, out of more than 2000 schools which are offering post-graduate certification in business management, just around 25% are meeting the industry skills and standards required in the economy. With around approximate 500,000 number of aspirants applying to IIMs’ and ISB’s each year and with that number growing consecutively, India and its business talent has been on a rise.
The first basic question that comes to our mind while discussing and deciding upon our future is, that what do we really want from our future? And to a question which seems deceptively to a human mind, and whose sole answer could determine to a large extent that where we should be pursuing the said degree.
Without doubts, the future, prestige and the promises of a foreign MBA degree are tempting are tempting enough to take us further, but in the end, if the final plans come down to returning to India immediately after the completion of the course, the following points should be kept in mind before taking such a step.
- The financial burden we will be creating for ourselves while pursuing a degree from abroad will be really hard to come out of, than any other financial debt we will be incurring in India.
- The prestigious opportunity to create an essential network with the elite Indian leaders, businessmen and fellow students in the business community will be missed out upon, and this factor is bound to create such boundaries that are largely going to influence the path of our future career prospects.
- The business environment is growing in such a rapid manner and is at a position where it never was. Being in sync with such fast-paced developments, strategies, plans and changing opportunities will be extremely difficult from abroad.
At par with the foreign institutes
There is no denying of the fact that the educational quality offered by the Indian B-schools is improving at a rapid pace, and is not left behind as compared to its foreign counterparts. And these institutes provide premium quality pertaining specifically to the Indian markets, and not missing out on the international scenarios too. And aspirants are likely to experience a world class educational experience while pursuing their MBA in India degree, in the comfort of their own country.
And therefore, such are the reasons for pursuing an MBA in India, and the further advantages of an Indian MBA degree in comparison to that of an International Degree.