ABSTRACT
One of the major challenges that business schools in India have faced over the past two decades has been the competition posed by foreign business schools. The dearth of institutions providing quality management education in India meant that students often had no choice but to enrol in foreign institutions, despite the high cost. The Indian Institutes of Management (IIMs) became acutely aware in the early 2000s of the need to signal, both to the domestic and international market, that the education they offered met international standards. In the absence of national rankings or accreditation systems in India that were recognised internationally, they sought to signal quality by seeking a place in international business school rankings and getting accreditation from international accreditation agencies. The quest for international rankings and accreditation has meant that the IIMs have had to change both their vision and their mission. Though initially created in the 1960s to train a new generation of managers for Indian industry, they have now transformed themselves into elite institutions that seek to be international in character. This chapter discusses IIM Calcutta's journey as it sought to find a place in international rankings and secure international accreditation. The motives that drove the process will be analysed as will the concerns that arose when the reality of the changes that were needed to achieve these goals became clear. The chapter will also consider the challenges that confront the Institute as it faces up to changes in the nature, content and pedagogy of management education in a post-Covid-19 world.
