Going by the latest batch of students that have flocked to the Indian School of Business (ISB), Hyderabad, it seems as if India is emerging as one of the preferred destination for management studies among students across the globe. Following the heavy H1B visa curbs by the USA, students from a large number of countries started considering India as their MBA destination. Even students from India, who until some time back were eyeing big US management schools, rejected many international offers from coveted B-schools like Duke, Yale and London Business School, and picked Indian MBA institutes instead.
This year, ISB alone witnessed a 24% rise in the number of admissions for the Class of 2010 as compared to last year. The growing number of international applicants at Indian management institutes also points towards the predictions and belief the Indian economy is likely to recover soon. Many students have also decided to choose a seat at top Asian MBA institutes due to the importance of understanding nuances of business in the emerging economies.
Pedro Henrique Lemgruber Vilela, an ISB student from Brazil, said, “ISB is a great centre of excellence for an international student who wants to understand doing business in emerging markets. There are lots of similarities between Brazil and India but there are many interesting differences too. I am looking forward to understand doing business in India and its culture.”
Also, considering the current economic health of US and other economies, the number of applicants for international B-schools has diminished lately. Students are taking to top Asian schools like the ISB and China Europe International Business School (Ceibs) in China.
According to Indian School of Business (ISB), almost 45 students at ISB this year, rejected admission offers from international B-schools like Duke, Yale, Northwestern, LBS and Oxford. They rejected those very universities which were once their dream destinations as they no longer guarantee top-dollar jobs.
This year, the number of international students at ISB increased to 21. Those joining the institute came from nine different countries such as Ukraine, Spain, France, UK, Canada, USA, Brazil, Australia, Nepal, and Singapore. The cost in comparison with other international schools is also one reason why they chose to join ISB.
According to a recent study by the University of California, Berkeley, almost 84% of Indian students and 76% of Chinese students sense a difficulty in finding a job in the US and believed their home countries’ economies will grow faster in the future than they have in the past decade.
Clearly Asian B-schools and Indian School of Business Hyderabad is here to stay as top choices for MBA aspirants.
