India has once again released its annual Undergraduate and B-School Rankings for 2024.
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The field of education worldwide has undergone significant transformations due to the influence of artificial intelligence (AI). AI has reshaped the delivery and management of education through its personalized learning algorithms, adaptive platforms, and automation. This shift has facilitated tailored education to suit individual needs. A key benefit of AI in education is its capacity to provide personalized learning experiences, recognizing that each student is unique in terms of learning pace and style of comprehension. Moreover, AI has streamlined processes for Universities by introducing automated grading, intelligent tutoring systems, and the creation of smart classrooms accessible to all.
Turning attention to the Indian economy, which has emerged as one of the fastest-growing economies globally over the past two years, showcasing its prowess in technology and innovation. Noteworthy achievements include the successful Chandrayaan-3 moon mission and hosting the G20 Summit in 2023, solidifying India’s standing in international affairs. The presence of tech giants like Apple and Tesla expanding their operations in India and setting up manufacturing units has significantly impacted the global business landscape.
With growth evident across various sectors, the demand for higher education has surged. According to the Education Testing Service (ETS), India has become the largest market for GRE test-takers globally, surpassing the US. This shift underscores the increasing awareness among Indian students regarding the significance of their education and its potential global impact.
However, India has encountered challenges in the past year concerning visa restrictions and political tensions with countries like the UK and Canada. Consequently, there was a 4% decline in Indian students applying to study in the UK and an 86% decrease in applications to Canadian Universities.
Despite these challenges, India remains a key driver of growth for universities worldwide and stands as the largest market for international students. The trends for 2024 indicate a notable 35% year-on-year increase in Indian students pursuing studies abroad. The international student demographic from India is particularly prominent in countries like Australia, Canada, the UK, and the United States.
For those considering studying abroad, careful consideration of all factors is crucial. While the process may seem daunting and complex, having support can ease the journey. Youth Incorporated, in partnership with The Times Of India, has unveiled the top 100 Global Undergraduate and Business School Rankings for 2024.
These rankings encompass leading undergraduate universities and business schools renowned for MBA, Masters in Finance, Marketing, Executive MBA, Online MBA, and Masters in Management programs. To aid in decision-making, the rankings are segmented based on location and course specialization, drawing insights from feedback from over 2550 institutes, recruiters, students, and alumni to compile the top 100 rankings.
Here is an overview of the performance of undergraduate universities and business schools in 2024.
Undergraduate Rankings
The Global University Rankings for 2024 show minimal shifts this year. Harvard University has reclaimed the top spot after falling to third place in 2023. Stanford University now holds the second position, having relinquished its first-place position from the previous year. Princeton University ranks third this year, climbing from second place in 2023 and sixth in 2022. MIT has secured the fourth spot this year, moving up from sixth place in 2023. Columbia University has advanced three positions from the previous year to claim the fifth spot. University of Pennsylvania follows in sixth place, progressing from seventh place in 2023. Yale University has dropped to seventh place this year from fourth place in 2023. University of Oxford has moved up to eighth place, rising one rank from the previous year. Cornell University, however, has slipped to ninth place after holding the fifth spot for the past two years. The London School of Business retains its tenth position, maintaining its presence in the top 10 global university rankings for 2024. The dominance of the UK and the USA in the top 10 universities underscores their appeal as premier study destinations for students globally.
Despite India’s economic growth, its universities have not performed as expected. Indian universities are lagging in program quality, faculty expertise, and student diversity. None of the Indian universities have made it to the top 20 in the Undergraduate Rankings for 2024, with only two universities making it to the top 50. IIT Delhi has secured the twenty-first spot, showing improvement from twenty-fifth in 2022 and twenty-fourth in 2023. Conversely, IIT Bombay has dropped to twenty-third place this year after ranking twentieth in 2023. IIT Kanpur and the University of Delhi have shown marginal changes in their rankings, with IIT Kanpur falling to sixty-third place from sixty-first in 2022 and 2023, and the University of Delhi ranking seventy-fourth this year compared to seventy-third in 2023. Indian universities must adapt to meet student needs and enhance the quality of education they offer.
MBA Rankings
The Global Business School Rankings for 2024 highlight London Business School’s ascent to the top position after maintaining second place for the past two years.
Harvard University has moved up to second place from third in 2023, while Stanford University has dropped to third place this year. INSEAD has made significant progress, rising from sixth in 2023 to fourth in 2024. IE University has secured a spot in the top five after maintaining seventh place for two consecutive years. Columbia University, previously ranked fourth for two years, now occupies the sixth position. University of Pennsylvania has been steadily climbing the ranks, moving from ninth in 2022 to eighth in 2023 and seventh in 2024. IIM Ahmedabad has made a notable advancement, claiming the eighth spot after ranking eleventh in 2023. Dartmouth College has shown remarkable improvement, climbing from twenty-first in 2023 to ninth this year. Cornell, previously in ninth place in 2023, has slipped to tenth in 2024.
In terms of Indian business schools, IIM Ahmedabad has shown consistent growth, securing the eighth position this year after ranking eleventh in 2023 and fourteenth in 2022. IIM Calcutta has also progressed, attaining the fifteenth spot this year compared to nineteenth in 2023. Among the top 50, besides IIM Ahmedabad and IIM Calcutta, only the Indian School of Business has secured the thirty-eighth spot, a slight decline from thirty-fifth in 2023. SP Jain Institute of Management remains outside the top 50, maintaining the fifty-sixth position this year.
The rankings indicate a positive trajectory for Indian business schools, signaling the potential for a resurgence in 2025.
(Disclaimer: The above press release is presented in collaboration with Mediawire, and PTI bears no editorial responsibility for its content.) PTI PWR