IIM C India’s First B-School to Earn Both AACSB and AMBA Accreditation

Indian Institute of Management Calcutta (IIM C) has become the first IIM in the country to receive accreditation from AACSB (Association to Advance Collegiate Schools of Business) International. With this, India’s oldest IIM joins an elite group of global institutes that have received this accreditation – considered the gold standard in business education – and earned by less than 5% of the world’s business programmes

AACSB Accreditation, one of the most coveted by B-schools, has been earned by less than five percent of the world’s business programs. Only two Indian B-schools – ISB and TAPMI – already have this accreditation. 

In March, IIM Calcutta also bagged a global accreditation status by the Association of MBAs (AMBA) for its PGPEX (accredited as MBA) and PGP (accredited as MBM/MIM) programmes for five years. Now it becomes the only B-school in India with both the AACSB and AMBA accreditations. Read about IIM C’s AMBA accreditation here: PGPEX bags AMBA, UK Accreditation 

Also Read: MIM vs MBA: Everything You Need to Know

IIM Bangalore and IIM-Ahmedabad have an EQUIS or European Quality Improvement System accreditation. 

What is the difference between AMBA, UK, EQUIS and AACSB accreditation you ask? While AMBA, UK accredits courses as MBA, MBM etc, AASCB and EQUIS accredit the B-school as a whole. You may come across B-schools that claim that their B-school is accredited by AMBA, UK but this is a less than accurate representation of facts since AMBA only accredits courses. AMBS, EQUIS and AASCB accreditation comprise the three highest global accreditations awarded to B-schools.    

What is the difference between AMBA, UK, EQUIS and AACSB accreditation you ask? While AMBA, UK accredits courses as MBA, MBM etc, AASCB accredits the B-school as a whole. You may come across B-schools that claim that their B-school is accredited by AMBA, UK  but this is a less than accurate representation of facts since AMBA only accredits courses.   

“This accreditation is a big step in our journey towards internationalisation,” Saibal Chattopadhyay, director, IIM Calcutta. Benchmarking IIM-C against the best in the world will not only further the institute’s global ambitions but also help it tie up with better-known international counterparts for offering new/dual programmes, carrying out student and faculty exchanges and promote better research. “All this will be possible on a much larger scale than what we are doing now,” said Chattopadhyay.

Also Read: One year MBA – India’s first globally accredited MBA

Achieving accreditation by AACSB is a process of rigorous internal review, evaluation, and improvement, and can take multiple years to complete. “AACSB evaluated us according to 19 parameters including the quality of faculty, research, student quality, infrastructure, financial stability, and assurance of learning. Above all, they judge whether the work we are doing is aligned to our overall mission and vision statement,” said Chattopadhyay.

In March, IIM Calcutta also bagged a global accreditation status by the Association of MBAs (AMBA) for its PGPEX (MBA) and PGP (MBM) programmes for five years. Now it becomes the only B-school in India with both the AACSB and AMBA accreditations.

All accredited schools must go through a peer review process every five years in order to retain their accreditation.

Founded in 1916, AACSB International (AACSB) is the longest serving global accrediting body for business schools that offer undergraduate, master’s, and doctorate degrees in business and accounting. Today, there are 716 business schools in 48 countries and territories that maintain AACSB accreditation. Similarly, 181 institutions maintain an additional specialised AACSB Accreditation for their accounting programs.

AACSB, in a press statement said, “AACSB Accreditation represents the highest achievement for an educational institution that awards business degrees.”It takes a great deal of self-evaluation and determination to earn AACSB Accreditation, and I commend Indian Institute of Management Calcutta for its dedication to management education, as well as its leadership in the community,” said Robert D. Reid, executive vice president and chief accreditation officer of AACSB International. “Through accreditation, IIM Calcutta has not only met specific standards of excellence, but has also made a commitment to ongoing improvement to ensure that the institution will continue to deliver high quality education to its students.”