Mumbai: On the academic front, the MBA programme, which was once supreme, now faces dark days with about 65 B-schools planning to close down due to drop in business profit.
Once a bewitching study, attracted not only those interested in business but also all those who wanted to master the tools of management.
The Indian management education sector grew so wildly when demand was rampant with nearly 3,900 management schools lately functioning across the India offering close to 3.5 lakh seats that in recent times overshot the demand.
In a dramatic change over as many as 65 business management colleges across India are planning to close down as these institutes no longer see business sense in offering an MBA course, preferring to use the land for more lucrative ventures.
In fact, experts predict that many more management colleges may close down in the days to come.
For the students who wants to apply to any of these lesser-known colleges, need to think twice before applying as the curriculum is far from business reality, faculty is minimal and, most importantly, very few respectable companies participate in the course-end recruitment drives.
Now with no job offer at the end, the decision is no longer complicated for the young graduates could rather take up a job or prepare harder for another shot at an entrance exam which is the gate to a better B-school.
However, while the lower-rung management schools are being bypassed, there are still tens of thousands who make a B-line to join an IIM. Lakhs of students sign up to take the Common Admission Test (CAT) for close to 3,000 seats that the IIMs have on offer.
Having said that, the manner in which India's business education sector has developed poses lot of vital question.
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