Business schools have become so much the in-thing these days that most employers in India now consider it a minimum qualification for white-collar jobs, fulfilling the same function that the basic graduation degree did in the decades before economic liberalisation.

The huge demand for B-school graduates is amply reflected in the burgeoning numbers of institutes for business learning. Today there are 1,400 B-schools accredited by the All India Council for Technical Education and countless more — of questionable credentials or otherwise — that function without AICTE certification. In fact, the country produces almost seven times the number of B-school graduates as the UK.