How Indian B-Schools are redefining leadership for new era

Management education in India has transformed from a limited set of programmes in commerce and administration to a dynamic, globally competitive ecosystem producing leaders and entrepreneurs.

XLRI Jamshedpur, India’s oldest management school, was established in 1949 at a time the country was seeking to build managerial capacity to drive economic development. The first IIMs followed in the 1960s with support from MIT and Harvard. Liberalisation brought another major shift, as global markets opened and demand for skilled managers grew exponentially.

The idea of business leadership has evolved across generations, and b-schools have evolved with it. What began as a discipline centred on control, efficiency and functional mastery has now transformed into a philosophy of creativity, adaptability and systems thinking.

Earlier generations learned to manage scale, maintain efficiency and optimise within known systems. Curricula focused on various facets of business and organisational theory. Case studies, primarily from western corporations, taught students to navigate existing systems, not reinvent them. Success was defined as mastering established frameworks. Ethics and sustainability were often electives, if addressed at all.

The archetypal MBA was about predictability. Hierarchies were stable, markets slower and competitive advantage came from planning. The classroom was designed for debate, not experimentation. The ultimate aspiration was the corporate climb—a linear journey defined by loyalty and competence.

Globalisation and digitisation changed everything. B-schools realised that stability was a myth; disruption was the new normal. The classroom expanded beyond borders through international immersion programmes. Technology moved from peripheral to central—spreadsheets gave way to Python and R, static reports evolved into dashboards and simulations.

During the dot-com boom and the 2008 financial crisis, management schools taught graduates to differentiate hype from fundamentals. Understanding cash flow, sustainability and stakeholder communication during crises proved invaluable—skills that mattered again during Covid-19.

“Management education in India has evolved from theoretical to experiential, tech-driven and globally connected,” said Aditya Narayan Mishra, MD and CEO of CIEL HR. “Today, b-schools are preparing students for an unpredictable world where adaptability, innovation and data literacy matter as much as domain expertise.”

Business education has entered a phase of deep reflection. The modern b-school is a laboratory for leadership, where students design new systems. They learn to grow impact, not just profits.

“Students today are learning through data simulations, live projects and cross-border collaborations,” said Mishra. “The best programmes aim to build curiosity, empathy and communication alongside technical fluency. Graduates are now workplace-ready, equipped to contribute from day one.”

Climate change, inequality and social justice shape the moral vocabulary of modern management. ESG (environmental, social and governance) concerns are embedded into strategy courses. Entrepreneurship extends beyond profit, to climate ventures, fintech startups and social enterprises that redefine value creation.

Learning has become experiential through consulting projects, simulations and startup incubators. Faculty has evolved from instructors to facilitators. The result is a new kind of leader—one fluent in both analytics and empathy.

“Sustainability, leadership and ESG principles will become integral,” said Sathya Pramod, founder of KayEss Square Consulting and former CFO, Tally Solutions. “Indian management education will see more international partnerships, flexible programmes and a focus on entrepreneurship—preparing students not just to manage but to lead change.”

The digital revolution has democratised business knowledge. Platforms like Coursera and edX have made MBA curricula accessible to all, forcing legacy institutions to redefine their value. Management schools now act as innovation hubs where diverse thinkers collaborate, shifting from delivering degrees to delivering ecosystems of lifelong learning.

Technology is not just a tool but a teacher. AI offers personalised learning paths and real-time feedback. Students use large language models and predictive analytics to design experiments, simulate markets and test strategies—not to replace human judgment but to enhance it.

The next frontier lies in developing adaptive intelligence. As AI, climate change and geopolitical shifts reshape the world, managers must think in systems, act with humility and learn continuously. The classroom of the future will be a global network of minds co-creating solutions in real time.

The contrast is philosophical. The old world sought managers who could predict and control. The new world demands thinkers who can interpret and adapt. The earlier MBA built hierarchies; the modern MBA builds networks. Where once the curriculum ended with a degree, today it begins a lifelong process.

In this transition from control to creativity, from profit to purpose, management education has become a mirror of the human condition—constantly evolving, questioning and striving to make sense of a world in motion. The modern manager is no longer a custodian of stability but a steward of change—and that may be the most profound transformation of all.

To better understand the evolution of management as a discipline, especially in the Indian context, THE WEEK spoke to a few leaders who graduated from Indian b-schools in different decades, starting from the 1970s. They shared changes they have observed over the years, learnings from developments that changed the landscape and their perceptions about the future. On the following pages are their thoughts—the collective wisdom of more than five decades of experience.