When Rachit Jain decided to study for an MBA, he talked to friends at US business schools about potentially joining them abroad. But instead he opted to enrol at the Indian School of Business (ISB) in Hyderabad.
While going abroad remains tempting for those with the financial means and is seen by many Indian families as the most prestigious route to success, a significant cohort of younger Indians are choosing to study business at home. This allows them to take advantage of an affordable degree, stay close to family and build a network in an economy that is growing, albeit at a slower pace than previously.
“I come from a family business and want to be in India long-term, not in the US or Europe,” says Mr Jain, who was working as a consultant for Bain in Delhi before starting his MBA this year. “The question was how many people I could connect with. The brand of ISB means I can instantly call up and talk to five or 10 alumni in any Indian city.”