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To make a meaningful impact, the management curriculum must extend beyond theoretical models and global business cases to include immersive experiences that expose students to the ground realities .
As India progresses toward its striving vision of becoming a Viksit Bharat, the significance of educational institutions in influencing this journey becomes increasingly evident. Among these, management institutes hold a particularly strategic position, as powerhouses for the nation’s progress across economic, social, and governance dimensions. While advances in policy-making, infrastructure development, and industrial growth continue to serve as the foundational pillars of national transformation; it is eventually the quality of leadership, the spirit of innovation, and the commitment to ethical governance that will determine whether India’s growth is merely quantitative or truly transformative. In this context, the budding landscape of management education undertakes a pivotal role.
Over the past decade, management institutes in India have endured a visible shift in both purpose and pedagogy. What were once seen primarily as training grounds for corporate professionals are now developing as spaces for innovation, social dialogue, and leadership development with a broader societal lens. In a rapidly rising India, there is a mounting recognition that the leaders of tomorrow must be equipped not only with business acumen but also with the sensitivity and vision required to address the complex social and economic challenges the country continues to face. In light of this revolution, it is imperative that management education in India moves beyond the traditional boundaries of corporate case studies and financial modelling and begins to cultivate a deeper national consciousness among its students. The curriculum and institutional culture must inspire young leaders to ask critical and future-facing questions, such as finding ways to contribute to solving India’s persistent developmental challenges or serving the needs of a broader cross-section of society, particularly those who have historically been left out of the growth narrative.
One of India’s most promising yet complex assets is its demographic dividend. With around two-third of the population under the age of 35 and millions entering the workforce each year, the dual necessities of job readiness and job creation have never been more urgent. In this context, management institutes can prepare students for existing opportunities and also to embolden a culture of entrepreneurship that can generate new ones. By integrating innovation labs, startup incubators, and entrepreneurship cells into their academic frameworks, business schools can address India’s most pressing needs, whether in agritech, clean energy, affordable healthcare, or rural supply chain management.
However, in order to truly make a meaningful impact, the management curriculum must extend beyond theoretical models and global business cases to include immersive experiences that expose students to the ground realities of India. Structured internships, field projects, and long-term engagements in tier 2 and tier 3 cities, as well as in rural areas, can play a critical role in shaping leaders who are not only innovative but also contextually aware. For instance, IIM Indore’s students undergo a week-long Rural Engagement Programme, during which they not only live in the rural areas of Madhya Pradesh but also interact with the villagers, identify the challenges they face, and offer solutions to the government. These grassroots hands-on experiences allow students to engage directly with the challenges faced by small businesses, local governments, and underserved communities; ultimately equipping them to develop solutions that are both scalable, socially impactful and sustainable.
Further, management institutes can bridge the urban-rural gap by placing themselves as knowledge partners for local governments, small businesses, and cooperatives. Through action research, consultancy projects, and policy labs, management students can help improve governance, optimize resource utilization, and enhance productivity in rural and semi-urban economies. Additionally, courses on public policy, sustainability, rural management, cooperative models, and ethics in governance should become core, not electives. Likewise, language and cultural training can help future managers communicate better with India’s diverse population, making them more effective changemakers across regions and sectors. Further, Indian philosophy, indigenous knowledge systems, and case studies of social enterprises must occupy a central place in management classrooms, reminding students that a Viksit Bharat depends not just on outcomes but on the values that shape those outcomes.Â
India’s transformation cannot happen in silos; management schools must act as vital bridges between academia, industry, and government. Institutes like IIM Indore are already playing this role, by collaborating with the Madhya Pradesh and Uttar Pradesh governments on the One District One Product (ODOP) initiative to boost rural enterprises and promote local crafts. The institute is also running financial literacy programmes for women to empower communities at the grassroots. Through teacher training under national programmes like CM RISE, PM SHRI, and the Ministry of Education’s MMTTP, IIM Indore is contributing to the transformation of public education. These initiatives exemplify how management education can directly support inclusive growth, ethical governance, and the broader mission of nation-building.
With over 5,800 MBA institutions currently operating nationwide, producing hundreds of thousands of graduates each year, the capacity to influence national development is already present; what is required now is a profound realignment of purpose. Business schools must transform into mission-driven catalysts, shaping economic progress, social empowerment, and ethical governance. Indian management institutes, especially the IIMs, are already gaining global recognition, and this growing international stature reflects the academic rigour, research output, and leadership excellence these institutions have cultivated.Â
But their real success measure will not only be in world rankings or placement packages, but how well they utilize their influence in influencing India’s destiny. By infusing values-based leadership, promoting social innovation, and promoting responsive governance within their culture, India’s business schools can be nation-building crucibles. By doing so, they will not only create globally competent professionals but also raise a generation capable of propelling India’s composite and inclusive development to the world. And, that will be the true measure of success of an Indian business school.
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 Prof. Himanshu Rai is Director, IIM Indore; Sujeet Kumar is Member of Parliament, Rajya Sabha.
