Outlook-ICARE Rankings 2027: India’s Top 20 B-Schools
Outlook-ICARE is a business school ranking initiative by Outlook magazine that evaluates management institutes across key parameters. It publishes rankings every year to help students compare B-schools and make informed decisions about management education. The Outlook-ICARE Rankings 2027 present the latest assessment of Indian management institutes, based on factors including faculty quality, research, employability, and diversity.
Outlook-ICARE Rankings 2027: India’s Top 20 B-Schools
The Outlook-ICARE Rankings 2027 feature 20 business schools evaluated across five parameters: faculty-student ratio, research, employability, faculty quality, and inclusiveness and diversity. The rankings assign different weightages to each parameter to calculate the overall score.
The following table lists the top 20 B-schools, their locations, overall scores, and ranks as published by Outlook-ICARE.
| Rank | B-School | State | Overall Score |
| 1 | IIM Ahmedabad | Gujarat | 98.72 |
| 2 | IIM Bangalore | Karnataka | 97.94 |
| 3 | IIM Calcutta | West Bengal | 97.60 |
| 4 | XLRI Jamshedpur | Jharkhand | 93.86 |
| 5 | IIM Lucknow | Uttar Pradesh | 93.55 |
| 6 | IIM Indore | Madhya Pradesh | 93.20 |
| 7 | Management Development Institute (MDI), Gurgaon | Haryana | 92.91 |
| 8 | Department of Management Studies, IIT Madras | Tamil Nadu | 92.70 |
| 9 | Great Lakes Institute of Management, Chennai | Tamil Nadu | 92.51 |
| 10 | Institute of Management Technology (IMT), Ghaziabad | Uttar Pradesh | 92.30 |
| 11 | Xavier Institute of Management, XIM University, Bhubaneswar | Odisha | 90.78 |
| 12 | T. A. Pai Management Institute (TAPMI), Manipal | Karnataka | 90.18 |
| 13 | Loyola Institute of Business Administration (LIBA), Chennai | Tamil Nadu | 89.80 |
| 14 | SRMIST Faculty of Management, Chennai | Tamil Nadu | 89.28 |
| 15 | Indian Institute of Foreign Trade (IIFT), New Delhi | Delhi | 89.05 |
| 16 | IIM Sambalpur | Odisha | 88.62 |
| 17 | Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai | Maharashtra | 88.20 |
| 18 | Jindal Global Business School, Sonipat | Haryana | 87.81 |
| 19 | Jagdish Sheth School of Management (JAGSoM), Bengaluru | Karnataka | 87.63 |
| 20 | Guru Gobind Singh Indraprastha University, New Delhi | Delhi | 87.20 |
Source: Outlook-ICARE Rankings 2027.
What Parameters Are Used in the Outlook-ICARE Rankings 2027?
The Outlook-ICARE methodology uses five parameters to assess business schools. Each parameter carries a defined weightage in the final score.
| Parameter | Weightage |
| Faculty-Student Ratio | 25% |
| Research | 20% |
| Employability | 25% |
| Faculty Quality | 20% |
| Inclusiveness and Diversity | 10% |
Faculty-student ratio and employability have the highest weightage at 25% each. Research and faculty quality contribute 20% each, while inclusiveness and diversity account for the remaining 10%.
This approach considers multiple aspects of management education, including the learning environment, research contributions, employment-related outcomes, faculty credentials, and institutional diversity.
What Do the Outlook-ICARE Rankings 2027 Mean for MBA Aspirants?
The Outlook-ICARE Rankings 2027 offer MBA aspirants a starting point for comparing management institutes across India. The list covers a mix of public institutions, private management schools, and university-based business schools.
However, rankings should be considered alongside other factors when selecting an MBA programme. Aspirants should also compare tuition fees, placement reports, median salaries, specialisations, alumni networks, location, curriculum, and entrance exam requirements.
The weightage assigned to each parameter also matters. A school's overall rank reflects its performance under the ranking framework and may not fully capture how well its programmes align with an individual student's career goals.
Ultimately, choosing a B-school requires evaluating both institutional performance and personal priorities. The Outlook-ICARE Rankings 2027 can help aspirants shortlist institutes, but a detailed comparison of programme outcomes, costs, and career opportunities is essential before making an admission decision.