ISB admissions for 2008-09 are open

Hai freinds,

Again the admission process for one year full-time Post Graduate Program in Management (PGPM) for 2008-09 at ISB is opened. The site of ISB now accepts for filling up the application form.

• You have to register at the ISB site first by creating account by Clicking Here, before proceeding to fill up the application form.
• The email address that you enter in this form will be treated as your primary email address.
• All communications will be sent to your primary email address provided in the registration form.
• Please note that the online application system does not allow you to change your primary email address once entered so as to ensure that all communications made by the ISB reach you in time. ISB would be unable to accommodate any requests for changes in your email address.
• Upon registration, a confirmation mail will be sent to your email address with verification link. You will be able to access the application only after the verification.
• The application form can be filled up in multiple sessions. So, start early, download the essays and start working for your essays.
• Instructions for filling up the applications are very clear
• Recommendations have to be written in a prscribed format provided in the application. The format can be downloaded. If the space provided in the original word document is not suffiecient, you can expand the space provided for each question in the Recommendation Letter.

If you have any query regarding the application form, you can mail to apphelp@isb.edu or you can talk to the admissions office at 040-23187474.

Wishing all the ISB aspirants for Class of 2009 all the best.

India - A preferred destination for low cost mobile handsets manufacturing

From a slow start, mobile manufacturing in India is beginning to take off and may soon rival China as a base for low-cost handset production. According to US research group Gartner, in the last 12 months alone, the number of units produced in India has soared by 68%. The subcontinent is forecast to have the highest growth in mobile manufacturing again this year.

The first factories for mobile phones were not established in India until 2005. Since then however, growing demand at home coupled with a relatively cheap labour force, has seen production increase dramatically. In 2006, Gartner reports that India produced nearly 31 million mobile phones, with a street value of US$5 billion. For 2007, it has forecast that handset production will increase by 68% in units to nearly 95 million handsets and 65% in value terms. Over the next five years Gartner says that the Indian market will see a compound annual growth rate in terms of mobile phone production of 25%.

The rampaging growth of demand for mobile connections in India is driving the demand for home-based mobile manufacturers. India is the fastest growing mobile market in the world, with a further 6.57 million mobile subscribers signing up for services last month alone. At the beginning of June 2007 the sub-continent was home to 178 million mobile users. Over six million users are being added every month and there is a captive local market for mobile manufacturers. Low mobile penetration and favourable government policies are driving mobile phone original equipment manufacturers to set up manufacturing facilities in India. Nokia started its unit in Chennai in January 2006 and produced a record 25 million handsets in the first year of operation. The vendor is also exporting mobiles from India to Sri Lanka. Motorola and electronics manufacturing service vendors (EMS) like Foxconn and Flextronics have also set up plants in India.

Gartner said though the world's top five handset makers will retain a major share of production volume, it expects local manufacturers to capture up to a fifth of India's overall mobile phone production volume by the end of 2011. It is believed that growing demand for low-cost and ultra-low-cost mobile phones and the need for EMS vendors to reduce their revenue exposure to Nokia, Motorola and Sony Ericsson, for whom they are now manufacturing in India, will contribute to the growth of local-brand mobile phones in the Indian market, said the report.

Another key challenge will be to keep handset prices low, as Indian consumers are very price sensitive. This will be achievable by gaining access to low-cost, feature-rich and local-specific chip designs, as well as a strong distribution network. Key stakeholders in the mobile phone industry value chain can provide this, so local manufacturers must look to form alliances and partnerships with them in order to succeed, it said.

In April 2005 Finnish company Elcoteq was the first company to set up a telecoms manufacturing unit in Bangalore. Korean giants LG and Samsung quickly followed suit, before market leader Nokia also got in on the act in 2006. However, Nokia has begun to export mobile phones from its plant near Chennai (Madras) to the Gulf States and Africa. In addition there are a few locally branded phone vendors and manufacturers such as Spice, Usha Lexus, and BPL that are either manufacturing locally or import the handsets.

A recent MacKinsey research report says "India leads the market in offshored back-office services, but as a manufacturing center it lags behind China, Thailand, and the rest of Asia. The reasons are well documented: multinational companies operating in India must overcome erratic electricity supplies, poor roads, and gridlocked seaports and airports while contending with government policies that discourage hiring and hold back domestic demand for goods in many sectors. Such obstacles can be considerable, but they haven't stopped some multinational manufacturers from setting up shop in India."

The research report further says "already just over half of all offshore manufacturing by US companies involves skill-intensive sectors, and that figure could rise to 70 percent by 2015. With high-skill sectors accounting for almost 40 percent of the manufacturing output of India, it is in a good position to absorb some of that increase. For one thing, the country offers abundant engineering and technical talent: every year, it produces 400,000 graduate engineers, second only to China's 490,000. Companies might also be attracted to India (and to other developing countries) by the increasing availability of reliable suppliers, the chance to escape unrelenting price pressures at home, and the size of the domestic market. LG, for example, plans to make handsets in India to take advantage of its rapidly growing demand for mobile telephones".

It also says "multinationals willing to make the effort to source and manufacture products in India are likely to obtain first-mover advantages such as exclusive relationships with the best suppliers, access to the brightest talent, and government support. Overall, these companies will learn how to cut their costs more quickly, to improve their returns, to increase their competitiveness in Western markets, and to position themselves for leadership in Asian ones. What's more, India's combination of a highly educated workforce and a large, lower-income, and underserved population could help companies learn lessons and develop products with applications in emerging markets around the world.".

Related Articles:-

• India - Fastest Growing Base for Mobile Manufacturing - BWCS Consulting - 26-06-2007
• Nokia manufacturing unit in India for Base Station Controllers - March 31, 2005
• When to make India a manufacturing base: Mckinsey - January 28, 2006

IBM announces collaborative SSME intiative with ISB and other schools in India

IBM, at the first India Service Science, Mangement and Engineering (SSME) - 2007 conference held in Banglore announced collaborative SSME curriculum initiatives with leading business and tech schools in India.

The company had signed a memorandum of understanding, earlier this year with Indian School of Business (ISB), Hyderabad. While signing the MoU, Professor Rammohan Rao, Dean, ISB said, "A strong industry academia partnership is extremely important for us to provide management education that is relevant and current. I am sure that IBM and the ISB together can conduct cutting edge research that will be immediately applicable in India, and also successfully replicated elsewhere in the world. The ISB is proud to be associated with IBM for pioneering this research in India."

"The aim of this agreement is to support ISB to open the SSME Program which includes high-end research, development of case studies and curriculum for the Executive Education and the Post Graduate Program in Management with the help of IBM so that the discipline of service science can be developed and lead to nurturing specialized human resources," said Dr. Daniel M Dias, Director, IBM India Research Laboratory.

Professor Viswanadham, Executive Director, Centre for Global Logistics and Manufacturing Strategies (GLAMS) at the ISB said, "With 30 % of our economy dependent on it, the service sector plays a very important role in the Indian economy. The Centre for Global Logistics and Manufacturing Strategies will explore innovative possibilities to streamline, transform and automate processes and develop human resources to deliver services more efficiently. The study will focus on service chains connected with ITES, Retail, Textiles, Logistics, Supply Chain Finance, Human Resource Management, Business Services and others."

IBM is working closely with IIM, Banglore, IITs, and Indian Institute of Science, Banglore to advance SSME research in the region. Dr. C. Mohan, IBM Fellow and Chief Scientist, IBM India, said, "The new academic initiative is designed to prepare graduate students for careers in the evolving multi-disciplinary field of services management. In the 1950s, IBM made a similar effort to help establish computer science as a new academic discipline."

S. P. Jain Institute of Management and Research, Mumbai (SPJIMR) has partnered with IBM to study IT deployment services management model. The study results will help SPJIMR and IBM to develop a courseware in services design.

Nirma Institute of Management (NIM), Ahmedabad, has teamed with IBM to study managed deployment of eGovernance services. The study result is expected to provide guidance in managing the IT-based system deployment of eGovernment projects particularly in the area of citizen services and to contribute in developing a courseware on the eGovernance services.

The new programs draw on research and teaching in the fields of computer science, computer engineering, business strategy and management sciences to help students develop the skills required in a technology-based, services-led economy.

IBM said many leading universities across the world have begun exploring and investing in the field of service science, also called service sciences, management and engineering (SSME), to develop exactly these cross-disciplinary skills. University of California, Berkeley, Arizona State University and North Carolina State University are among a handful of universities in the United States that have established programs in service science. Universities in Europe and Asia are also creating programs in this area.

The goal of the SSME discipline is to drive productivity, quality and sustainability of services, while making the learning rates and innovation rates more predictable across the service sector, especially in complex organization to organization services including business to business, nation to nation and government to population.This new academic discipline brings together ongoing work in fields of computer science, operations research, industrial engineering, business strategy, management sciences, social, cognitive and legal sciences, to develop skills required in a services-led economy. The global SSME research community is aggressively laying the groundwork for this challenging new research area.

Complete Source Articles:-

• IBM Announces Collaborative SSME Curriculum Intiatives in India - itnewsonline - 24-06-2007
• IBM and ISB Launch Major Services Initiative in India - ZDnetindia.com - 07-02-2007

Inflation at its 11-month low of 4.28 percent

Inflation declined to an 11-month low of 4.28% for the week ended June 9. Although the strong base effect was the overriding factor leading to softening of the inflation rate, a decline in the wholesale price index (WPI) was a welcome change. Prices of food articles including fruit and vegetables, cereals and pulses saw a decline during the week. The last time inflation was this low was when it touched 3.9% in the last week of April 2006.

The declining trend could also augur well for consumers who are facing the brunt of high interest rates following tighter monetary measures introduced by the central bank over the past few months. Although a rate cut may not be on cards yet, this could stabilise interest rates for the time being. The WPI, on which inflation is based, fell 0.05% in the week ended June 9 compared to the previous week. The decline in index was mainly owing to the fall in food prices across the board in both categories of primary articles and manufactured products.

Among primary food articles, there was a decline in the prices of fruit and vegetables (0.5%), cereals (0.6%) and pulses (0.8%). In the manufactured food products category, there was a 2% decrease in prices of soyabean oil, coconut oil and khandsari. In the edition dated June 22, ET had reported that inflation would fall to 4.4% and hover around the mark in June. RBI has targeted inflation between 4% and 4.5% for 2007-08. Economists are of the view that this is good news. “There is a clear shift from the high inflation rates experienced in the economy in the recent past,” Centre for Monitoring Indian Economy (CMIE) executive director Mahesh Vyas said. Economists, however, caution that inflation in manufactured products remains high. “Even as the overall drop in inflation is good news, it’s as high as 5.2% in manufactured goods,” Economic Advisory Council to the PM member Saumitra Chaudhuri said.

Crisil principal economist DK Joshi points out that inflation in the manufacturing sector is fuelling concerns of overheating in the sector. The manufactured goods contributing to high inflation in the category include cement, iron and steel, edible oils and grain mill products where inflation is a high 12%, 10%, 14% and 11% respectively. Even as the base effect has played a role in lowering inflation, economists say there are other factors responsible. “Previously, the inflation rates had shot up due to supply-side constraints and a robust demand.

With the government stepping in to ease supply bottlenecks and RBI controlling demand through a tighter monetary policy, the government has ensured that inflation stays under control,” Mr Vyas said. The monetary tightening of the economy is also a lowering factor, says Mr Joshi.

Source:

Article:- The Economic Times - June 23, 2007

Statistics:- Press note of Office of The Economic Advisor (9th june, 2007)

Related Articles:-

Inflation drops to a 58-week low of 4.28% - CMIE

Profiles in Brief:-

Mahesh Vyas - Executive Director - CMIE

Mahesh Vyas began his professional career as a research assistant with Centre for Monitoring Indian Economy (CMIE) in 1980. He did his graduation in science and post graduation in Economics & Statistics. He then moved to International Economics to research the economics of East Asia and China between 1982 and 1985. Besides, he has worked on several sectoral studies and developed new systems at the CMIE.

SAUMITRA CHAUDHURI- Member, Economic Advisory Council to the PM

Saumitra Chaudhuri is Economic Advisor with ICRA Limited, which is a full service credit rating agency, and an associate of Moody’s Investors Service. Since January 2005, he is a Member of the Economic Advisory Council to the Prime Minister. Basic degree education in Science; studied economics at the Centre for Economic Studies & Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi. Economic Advisor & Research Co-ordinator since early 1993 and responsible for research in contemporary economic developments and policy formulation. Member of ICRA’s Rating Committee and the Executive Editor of the quarterly publication – Money & Finance. Led development effort in public finance ratings involving analytical examination of economic and fiscal information of individual States of the Union, as also that of municipal bodies and other agencies engaged in urban economic infrastructure.

Raman Roy - father of India's BPO industry

Raman Roy, a serial entreprenuer, has vast experience in starting and scaling up businesses. In 1993, when he convinced John McDonald, the Comptroller at American Express (Amex), to open an operational centre in India, few could have imagined the juggernaut he would set in motion. In 1994, Raman Roy, considered to be the pioneer of the BPO industry in India, set up one of the first financial backrooms in India for American Express, Japan. In 1996-97, Roy pulled out and joined GECIS and helped them set up an outsourcing center in India. In 2000, Roy along with Varadarajan and five others, set up Spectramind, a totally Indian company promoted by venture capitalists.The rest ,as they say , is history. After two years, Wipro became a strategic investor, and in July 2002, Wipro wholly acquired Spectramind. He has successfully led the BPO operations of American Express, GE, and most recently, Wipro Spectramind.

From there, it was Wipro Spectramind ranks the first amongst third party providers in the ITES (Information Technology Enabled Services) -BPO sector in India. This pioneer is now known as the Father of the Indian BPO industry and guru of the IT-enabled services business in India.

Prior to Spectramind, Roy was associated with GE Capital where he led the setting up of their flagship remote processing center. Roy was responsible for the conceptualization and implementation of the initiatives including establishing new global service businesses from India, which focussed on providing comprehensive high value add process and service solutions to international clients. He also played a key role in the structuring and setting up processing capabilities for GE Capital’s joint ventures with Mastech USA and State Bank of India—both of which involved the setting up of processing capabilities in India.

Before his successful stint with GE Capital, Roy was the business leader of accounting operations at American Express and played a key role in setting up a global centralized accounting facility in India catering to Europe, USA and the Japan Pacific Asia Australia region. The center presently offers all aspects of accounting services to American Express offices in USA, Europe, Japan, Asia, Pacific and Australia. Roy’s contribution included evolving the strategy, designing and development of the ‘centralized’ center of excellence.

Raman is a chartered accountant from India and a chartered management accountant from the UK. He is also a member of Nasscom and the CII Council of ITeS.

If the world is making telephone calls to India today—calls that help make careers and profits, and calls that have generated employment for nearly 500,000 people so far—there’s one man who has a lot to do with it. The frontrunner of the IT-enabled services revolution in India, he has played a pivotal role in selling and establishing the country’s stature as a locale for remote processing. It is no surprise then, that the two largest companies in the IT-enabled services segment, American Express and GE Caps, grew to their present stature under him.

But ask Roy—considered the ‘Indian Call Center Guru’—about the beginnings, and he brushes it aside as a "mishap". "This entire industry called ITeS happened by accident—with companies discovering that the servicing capabilities that they had were far more valuable than they had thought—for it is not the price, but quality that matters in any kind of service. Around this time, while a lot of companies were exporting IT professionals, some discovered non-IT talent but realized that this was not exportable. This is where technology played a role, where people saw the availability of technology that made distances irrelevant," says Roy. Amex was among the first to see and pan on to the trend. "A lot of people said AmEx had gone loony. But the brave see what no one else does, and AmEx had that ability. It was a great experience to work with Amex. I was part of the India team and just came in with some ideas. It was the success of AmEx that made GE look at India as an option."

Starting his career with Tata Consultancy Sevices in the eighties, young Roy set up the financial services arm of Shivram Fibers. His tryst with BPO destiny began when he joined American Express in 1984 and helped set up its automation services. At Amex, Roy ran up the rungs of authority, notching up several firsts for the global giant—he launched its Indian rupee card, US dollar card and corporate card. Another milestone was his stint as head of operations in technology at Amex. Amex’s runaway success got American corporate giant General Electric to look at India—and today, it is no surprise that GE asked Roy to spearhead its international service as CEO. The road was tough, and as Roy himself admits, he thought "he had made a mistake in joining GE". But the initial hiccups only got him to think and work harder and smarter… In his own words—"We managed to get some great results, but it was mostly because of the fabulous company called GE." But GE’s was a captive unit—and when numerous clients kept asking for a wider range of services, the entrepreneur in Roy finally decided to take a closer look at the VCs lining up at his door. Soon after, Spectramind eServices was born… the rest is recent history. Wipro bought a major stake in Spectramind for a fantastic price—more than the splash the sale made, it brought new credibility to a burgeoning but nascent industry.

Appreciating Rupee benefits diamond industry

Rising rupee may have hit the margins of the companies in some sectors such as textiles and IT sector, but the Indian diamnod indutry is for cheers with the rupee appreciating against dollar by 10% over the last five to six months. This industry imports rough diamonds worth around Rs. 40,000 Crores. Of these imports, 70 percent come from the US market.

Today, if a diamataire imports, say, one carat rough diamond costing $300, it costs him Rs. 12,000 ($1 = Rs. 40.82), which could have costed him Rs. 14,100 for the same stone if the same was purchased six months ago. "The appreciation of rupee is seen as a big respite to the diamond insutry amid the rising rough diamond prices from the last one year", said Gems and Jewellery Export Promotion Council (GJEPC) Chairman Sanjay Kothari. Mr. Kothari, however, said the industry would be benefited only if the valuation of rupee and dollar remain steady for the next six to seven months.

Class of 2007 get record salaries

Complete Article:- B-school ISB graduates get record salaries - Indianedunews.net

The Class of 2007 of the premier Indian School of Business (ISB) has attracted record salaries; with the top international offer being $269,000 (Rs.11.8 million) against the highest domestic offer of Rs.4.39 million. The average international salary was $135,000 and the average domestic salary 1.50 million. Interestingly, a large number of students opted for domestic jobs. "The placement results for 2007 have been outstanding," ISB dean M. Rammohan Rao said. "There has been a sharp increase in the CTC (cost-to-company) levels and our students have shown immense confidence in making choices that suit long term career prospects over immediate salaries," he added.

The Class of 2007 completed the one-year intensive Post Graduate Programme in Management on April 7, 2007. Of the 416 students in the class, 414 participated in the placement process and, among them, received 584 offers from over 200 companies that visited the campus during the last phase of the program.

"The high CTC levels demonstrate the confidence that companies have in the high quality of the ISB's management talent," said Rao, even as he added a word of caution. "We need to take a balanced view of international offers given by multinational companies. I urge everyone to use these figures in the proper context so that potential students may get the correct picture of what they can achieve in a management institution."

The Class of 2007 received offers from a variety of companies and industries. The number of offers from the financial services sector more than doubled to 97, while a large number of offers continued to come from consulting companies. Companies from several new sectors like real estate, oil and energy, media, manufacturing, micro-finance, education, and healthcare, as also NGOs, made offers to ISB graduates.

During the year, for the first time in ISB's six-year history, a company recruited two groups of four-to-five students as core management teams to run stand-alone businesses. These groups will have full responsibility of setting up the projects from ground zero and leading them to become a success. "The company has offered students both CTC and equity stakes in the project, making it an exciting and attractive option for students with an entrepreneurial bent of mind," ISB deputy Dean Ajit Rangnekar said. The work experience of the students in the two groups ranges from two years to 11 years.

An interesting trend witnessed at the ISB was that a large number of students preferred domestic placements. "Many ISB students come with international work experience. After a year of learning and exposure to global faculty and management practices, they are keen to develop careers in India," Rangnekar pointed out. Often, those opting for international offers were observed to be discussing with the recruiters the possibilities of returning to India. "Increasingly, job content and location are becoming top priorities for selecting an offer," Rangnekar said.

Meera Sridharan, for instance, has opted for a domestic offer after working in a multinational company in the US. "Many of us look for challenging roles that give us the freedom for entrepreneurial expression. I was keen to be located in Chennai, near my family and I am happy that I got an offer from a company that had the flexibility to help me do so," she explained.

One of the unique platforms ISB provides is an opportunity for students to make career shifts. Thus, from the automobile industry to banking, from transportation to telecom, from being a doctor in the armed forces to a fund financing NGOs, the Class of 2007 has made several interesting career shifts.

"I had learnt and grown a lot during my career in the shipping industry but I needed to find new challenges," said Vijay Nehra, who has now moved to an FMCG (fast moving consumer goods) company.

"ISB changed my life. I got an excellent opportunity to refresh myself and find a new career that fulfils my ambitions and gives me a completely new perspective," Nehra added.

The school offers a one-year postgraduate programme; short-duration, high-powered executive education programmes for CEOs and senior executives; and a two-year research fellowship programme.

"The origins and distinctive research of our faculty members ensure that our programme content is contemporary and global in its perspective, and develops our students' understanding of modern management opportunities and challenges," dean Rao explained.

The ISB's contract with Wharton extended

The Wharton School of the University of Pennsylvania has announced the renewal of its association with the Indian School of Business (ISB) in Hyderabad, India for five more years. The initial success of this association between Wharton and ISB prompted its renewal as well as the launch of an ISB-Wharton Joint Research Initiative that will encourage joint research between Wharton and ISB faculty, including curriculum development.

ISB Dean M. Rammohan Rao stated, "ISB has benefited a great deal from its association with Wharton especially in designing our curriculum and in getting the active support of leading faculty members. I look forward to their continued participation and guidance and hope that together we will be able to develop a substantial body of research materials pertaining to Asian businesses."

As part of this renewed relationship, Wharton faculty will continue to have opportunities to teach in the post graduate ISB program and executive education courses; contribute to the curriculum development, assist ISB in the development of course reading and case materials to be used in the post graduate curriculum; and help initiate a faculty development program for ISB faculty. ISB will endeavor to serve as an active platform for supporting increased exposure in Asian business issues for Wharton; assist Wharton in the development of course materials relevant to the region; and sponsor collaborative research between ISB faculty and Wharton.

Complete Article:- Wharton School's association with ISB renewed

A glimpse of ISB Placements - Class of 2006

The Indian School of Business reported a 21 per cent jump in the average international salary offered to its students of Class of 2006, with the highest offer crossing a Rs 1 crore annual package. "This year four of our students crossed the salary package of 2,00,000 dollars with the highest offered being at 2,33,800 dollars (approximately Rs 1.04 crore)," Indian School of Business Deputy Dean Ajit Rangnekar told reporters here. He said the highest international salary was offfered by an Indian technology company for a global leadership position.

The average internationlal salary stood at $1,20,700 (approximately Rs 53.5 lakh), which is up 21 per cent from that of last year, he said. The domestic average salary also witnessed an increase of 18 per cent at Rs 11.77 lakh, while the highest Indian salary for an ISB student this year was Rs 30.33 lakh, Rangnekar said. Of the top four students getting the highest salary offers, two were women, he said.

The highest international offer made to a woman student stood at $2,23,400 (aproximately Rs 1.01 crore), while in the domestic scene it was Rs 20 lakh. The average salary offered to women students stood at Rs 9.89 lakh. Out of 345 students in the 2006 batch, 328 took part in the placement process and over 145 companies visited the school campus, he said. "A total of 425 offers were made to our students, which is up 21 per cent from last year," he added.

Source: The Economic Times - April 05, 2006

ISB placements - Experience Pays for Class of 2006

ISB’s Women Grads accounted for 50% Of Rs 1 Crore-Plus salary Packages for the Class of 2006. An annual salary offer of Rs 1.04 crore, or $233,800 to be precise, to the year’s top billed graduate from the Indian School of Business (ISB), Hyderabad, has not only made headlines, but has been cause for some euphoria.

However, what is not as well-known is that this top pick by Bangalore-based ITC Infotech for a London posting is no greenhorn. He is a well-heeled professional with 10 plus years tucked under his belt, and therefore, may not have made a killing after all. But if salary offers are anything to go by, the women graduates from ISB have done remarkably well this year having bagged 50% of the Rs 1crore-plus jobs.

It is understood that two of the four offers which breached the $200,000-mark were made by real estate consulting firm Tishman Speyer and British Petroleum to women graduates, who are again not freshers. Both the positions are based in London. All this may make it seem that campus-to-crorepati has never been so commonplace. But HR experts say this small number of crorepati graduates is not something to tom-tom about. However, they add that it is heartening to note that foreign companies are coming to campuses and putting great value on Indian talent. “These salaries are typically for overseas postings. It is really not fair to translate such numbers into INR and feel happy about them,” they add. Moreover, they are in keeping with industry standards abroad for people with equivalent profiles. Also, ISB graduates fall under a wide age group of 24-42.

Typically, their salaries cannot be compared to fresher profiles as their placements are more lateral in nature, they point out. Interestingly, the `outrageous’ job offer of Rs 1.04 crore has not come from traditional players like the Big 4 consulting firms, investment banks or large IT firms, but from the $57m ITC Infotech.

Sources say, “Sometimes, small companies do end up making huge offers to find favour in the campus. Besides, the company is backed by a very strong parent group.” HR experts in the IT industry say a similar experience profile would earn a similar amount in most large IT companies.

Economic Times spoke to a cross-section of ISB students to get a feel of their aspirations, euphoria and achievements. Though many of them felt that ISB did add value to their profiles, they believe that their own individual work experience stood them in good stead.

HR sources say, there is a rough premium of Rs 1 lakh per year of work experience over and above the base salary for any position. Former merchant navy officer Swati Singh, who will join Tishman in London, told ET, “I will get to leverage my finance knowledge in this new role.” She was the first-ever woman officer to join the merchant navy in 1996. The other woman graduate Shilpa Bijoria is headed to London to be part of British Petroleum’s fast-track leadership programme that develops future CEOs. Bijoria said the fellowship programme at BP would train her for two years. “I’ll be working on different projects and it will help me understand the company,” she said. After two years, she will join the top management team. Though she is not ready to reveal her pay packet, she says, “it will be an astronomical increase compared to my previous job”. Coming close to the magic salaries is Nirja Shah, ex-TCS project manager, is headed to Texas for a role in EDS’ corporate strategy division. Ms Shah says ISB is the only B-school that EDS has hired from. EDS has picked up about 8 graduates. “Some of the job offers at ISB rival those made at global schools like Harvard, Wharton or Kellogg,” she adds.

Another interesting case is that of Anjali Patel, who incidentally was the chosen one to meet visiting US President George Bush. She is joining Deutsche Bank’s investment division and believes in “managing money”. She has opted for an Indian posting in Mumbai although she has lived and studied in the US for over seven years.These women super-achievers also share a great sense of work-life balance. In their mid-to-late 20s, they are open to the idea of marriage and seek spouses “who will understand” their career choices.

Back home, the highest Indian offer of Rs 30.34 lakh has apparently gone to former HDFC executive Vijay Mulbagal. After his 9-year stint with the bank, he is all set to join Diamond Cluster, a US-based consulting firm. “I’m joining them at a middle management position. I like the new job profile as it requires constant interaction with the bigwigs of the industries,” he said. And, he is keen on setting up his own equity firm someday.

Some students also opted for positions in countries like China, Mexico and Poland, while a bunch of them did not opt for the placement process and stayed home in Hyderabad to promote their own ventures.

Source: The Economic Times - April 07, 2006

Rising rupee: The causes and consequences

This is an article published in the online edition of the Hindu Business Line by Alok Ray, a Professor of Economics, Indian Institute of Management, Calcutta. His e-mail: alokray15@yahoo.com.

The Reserve Bank of India follows a policy of managed float vis-à-vis the external value of the rupee. Till recently, it was mostly buying dollars from the market, adding to its foreign exchange reserves which have now crossed the $200-billion mark.

If the RBI did not buy dollars, the additional inflows — primarily from remittances, export of services and capital flows — would have sent the rupee spiralling in terms of dollars thanks to the forces of demand and supply. This would have made Indian goods and services more expensive relative to foreign goods and services and affected India's balance of trade.

CHANGED APPROACH

But in the last few weeks, the RBI policy seems to have changed. The rupee has been allowed to rise and is currently at a nine-year high against the dollar. One important trigger for the reversal of policy has been the concern about the rising inflation rate. An appreciation of the rupee would make imported foreign goods (such as crude oil and petroleum products) cheaper (in rupees) in India. But, conversely, the rise in the rupee would make Indian goods costlier abroad and cut into exports.

Alternatively, if the dollar price of exports is kept fixed, the corresponding rupee realisation would be less. Either way, exports would become less profitable, relative to home sales. This, it was hoped, would divert some export products to the domestic market. Consequently, the availability of goods would increase at home, pushing down prices, helping the Government tame inflation.

There is yet another way by which the recent reversal of the policy on supporting the rupee is expected to bring down inflation. Under the earlier policy of buying dollars with rupees, an equivalent amount of rupees was being put into circulation. Other things remaining the same, this would push up the inflation rate. Of course, the RBI did not let other things remain the same. Quite often, it carried out "sterilisation" operations — that is, it sold government bonds to mop up the extra money going into the hands of the public as a result of the RBI buying up dollars from the market.

But there are some problems with this policy. Borrowing more from the market with government bonds would push up the interest rate. This, in turn, would attract more funds from abroad and the RBI would have to do more sterilisation. A point may come when the public — financial institutions, in particular — may not be willing to buy more government paper.

Indications are that such a point may have been reached in India where many banks are more willing to lend to private investors and consumers in a booming economy, rather than to the government at lower rates of return. In addition, the RBI has been running out of the stock of government bonds as it has for long been a net seller of bonds to the market. Together, all these factors (perhaps) forced the RBI to change its policy of artificially keeping the value of rupee low.

THE IMPACT

What are the likely consequences of this policy change? As already explained, the rupee appreciation should exert a downward pressure on the inflation rate. The profitability of exports is going to be affected. Up to a point, exporters can absorb the loss, if the profit margin is high enough to start with. But if the appreciation in the rupee continues unabated, they will feel the pinch and exports will suffer.

Another important consideration is the exchange rate policy of competing countries. Since, at this time, the currencies of China and other East Asian countries are still virtually pegged to the dollar, suppliers from those nations will enjoy a competitive advantage over Indian exporters. For example, the dollar price of Chinese textiles in the US market will remain the same when that of competing Indian products is tending to rise. If the growth rate of our exports slows down (the average growth rate of exports was an exceptionally high 25 per cent per cent over the last 5 years), GDP growth rate would also suffer to some extent.

All Indian companies are not going to be affected the same way. If a company is both an importer and an exporter and its foreign exchange inflows and outflows largely cancel out, the rupee appreciation would affect it much less than firms that are either large net exporters or importers. Thus, the impact for the gems and jewellery sector, which imports most of the raw materials and then exports the finished product, should be much less. But many Indian software and pharmaceutical companies ( lion's share of whose revenues is fixed in dollar terms) will find their rupee revenue and profit margins under strain. Indian exporters of textiles and commodities (such as steel), who have to compete with Chinese products could find their competitive position undermined.

Indian tourists will find their foreign trips a little less expensive while the opposite would be the case for foreign travellers in India. As a result, the Indian tourism industry — especially its high-end segment — would have a negative impact.

Because of higher interest rates at home, many Indian companies have been borrowing heavily from the international markets at lower rates, especially for financing their recent acquisition drives. The resulting foreign exchange inflows are an additional factor pushing up the value of the rupee.

ECBs ATTRACTIVE

If the Indian borrowers feel that the rupee is going to appreciate even more, they would surmise that the debt servicing cost in rupees would go down. This would make External Commercial Borrowings (ECB) more attractive, even at unchanged interest rate differential. On the other hand, if they believe that the rupee is overvalued and can fall , then the balance would tip the other way.

If the RBI wants to limit the appreciation of the rupee in the interest of exporters, it has to discourage ECB. Given the higher and rising interest rates in India, it is difficult to do so, unless the RBI puts more restrictions on ECB. But the RBI is unlikely to do this. For one, the Government wants to develop Mumbai as an international centre for financial services.

To achieve that goal, the central bank will have to gradually remove restrictions on international capital flows and move towards full capital account convertibility. In fact, the last Credit Policy further increased the limit for Indians investing abroad. The RBI is hoping that the additional inflows will be offset by more outflows as a result of the raised ceiling on foreign investments by Indians. However, this is unlikely to happen given the huge interest rate differential in favour of India. To the extent companies are using ECBs to finance capacity expansion, this would also help both growth and inflation control (by removing supply constraints) in the long run.

So, the RBI has a difficult policy choice at hand. In which direction it will move will depend on which objective — inflation control, maintaining export growth or capital account convertibility — is given more importance. Policy instruments — including the exchange rate — would naturally have to adjust as the weights assigned to different objectives change over time.

Indian industrial growth up 13.60 percent in April, 2007

Buoyant manufacturing sector has pushed up industrial growth to 13.6 per cent in the first month of the current financial year against 9.9 per cent in April 2006. The industrial growth, as measured by the Index of Industrial Production (IIP), showed good performance despite the core sector that contributes to 26 per cent of the index showing a low growth of 7.4 per cent in April. While the manufacturing sector recorded a whopping 15.1 per cent growth in April as against 11 per cent in the same month in 2006. The mining sector, however, continued to perform poorly recording a low growth of 3.4 per cent, the same as in the corresponding period last year.

As per the use-based classification, consumer non-durables sector recorded very high growth rate of 21.9 per cent against 9.4 per cent in April 2006. However, consumer durable sector witnessed a deceleration of growth, which dipped to 5.3 per cent as against 7.4 per cent in the corresponding month last year. The IIP growth rate for the basic goods dipped to 8.9 per cent and for capital goods to 17.7 per cent from 9.3 per cent and 19.6 per cent respectively. The intermediate goods showed a good performance with a growth rate moving up to 12.6 per cent from 8.5 per cent in April 2006. Further, industrial output growth of March 2007 has been revised upwards at 14.5%.

Source : Expressindia.com

Related Articles:-

• Industrial growth story gets better, 13.6% in April - Indian Express
• Industrial growth up 13.6% in April - The Economic Times
• Industrial growth up 13.6% in April - MSN News
• Manufacturing pushes up industrial growth to 13.6 pc in April - Hindustan Times
• Mfg propels industrial growth to 13.6% in April - Business Standard

ISB Admissions - Frequently Asked Questions

A) About the Post Graduate Programme in Management

1. What is the PGP?
   The PGP refers to the ISB’s full-time one-year residential Post Graduate Programme in Management. The PGP is comparable in rigor and content to a regular two-year full-time MBA programme offered by global business schools.
2. Is the PGP similar to the Executive MBA programmes offered by several business schools?
   No. As mentioned above, the Post Graduate Programme is similar in rigor and content to a regular two-year full-time MBA programme offered by global business schools.
3. Does the PGP award an MBA degree?
   No. Unlike in other countries, degrees can only be awarded by universities in India.
4. What are the concentrations being offered in the PGP?
   The concentrations offered can be viewed on ISB's website at http://isb.edu/pgp/Curriculum.Shtml?menuid=106
   

B) Admissions Criteria

a) GMAT

1) What is the GMAT?
The GMAT is the Graduate Management Admission Test conducted by Graduate Management Admission Council and is a globally recognised test for admission to business schools. For more information on GMAT please visit their official web site http://www.mba.com/mba/TaketheGMAT

2) Is there a cut-off score for the GMAT at the ISB?
There is no cut-off score for the GMAT; however, a competitive score strengthens the application but does not in anyway guarantee admission. Similarly a lower score also does not necessarily mean exclusion.

3) Is it mandatory to take the GMAT before applying to the ISB?
Yes it is. The applicant has to take the GMAT and submit his/her score before sending in the application.

4) What is the validity period for a GMAT score?
Currently a GMAT score is valid for 5 years.

5) If I submit more than one GMAT score, which score will be considered by the ISB?
The higher score would be considered, provided it is within the validity period of five years.

6) How long does it take for the Official GMAT scores to reach ISB?
Normally it takes 2-3 weeks for the official GMAT score to reach us. Therefore, we strongly recommend that applicants plan and book the GMAT test dates well in advance.

7) Will I be considered for the deadline if I send my GMAT scores later?
You will not be allowed to submit your application without a valid GMAT score. However, you can submit the application with your test centre scores, but the official score should also reach us within 3 weeks of submission of your online application.

8) Are CAT/GRE scores accepted by the ISB in lieu of GMAT scores?
No. The ISB does not consider the CAT/GRE scores for admissions, only the GMAT.

9) Can the GMAT requirement be waived under exceptional circumstances?
No. The GMAT score cannot be waived under any circumstances.

b) English Proficiency Requirements

1) Does ISB require a test to prove proficiency in English?
A TOEFL/IELTS score is required for non-Indian students who did not have ENGLISH as the primary language of instruction during their undergraduate studies.

2) Where would we get more information about TOEFL?
Please visit their official web site www.toefl.org or write to toefl@ets.org

3) What is the IELTS?

IELTS is the International English Language Testing System. To know more about IELTS please visit their official website http://www.ielts.org

C) Application Process

1) Where do I get a copy of the application form?
The ISB’s entire application process is available online and therefore no printed copy of the form is available/accepted. You will therefore need access to an internet enabled computer to apply to the programme. You will also need to scan some documents to be uploaded and will therefore need access to a scanner.

2) Does the entire application need to be completed within one session?
No. You can complete the online application in multiple sessions and have the option to save parts of the application as you proceed.

3) Do I also need to submit a printed copy of the application form once I have submitted it online?
No. We will not require you to send a printed copy of the application form.

4) How do I send in my academic transcripts/mark sheets, other documents and photographs required as part of the application?
You have two options to do this:
Scan your documents (both sides) and upload them as part of your online application or
Send us photo copies of these documents by courier (no snail mail please) with your application reference number clearly written on each such document.

5) How can my referees submit their recommendation forms?
Once you enter the details of your referees in the online application, you will be queried whether your referees will complete their recommendation forms online or will they send it to them by courier. Depending on the option chosen by you the following process will have to be adopted:

If you have chosen online submission, your referees will be sent an email with a link on which they will be able to complete your recommendation form. Please ensure you enter their official email addresses only since personal email addresses will not be considered.

OR

If you have chosen submission by courier, the online application system will generate a downloadable file which you can send to your referees who can then send these completed forms to us by courier.

6) How will the ISB verify my transcripts/documents?
At the time of joining the programme, you will need to bring all the original documents with which we will verify the photocopies/scans with these originals.

7) Can I reapply?
Yes. You can reapply. Please note that you cannot reapply within the same academic year. You have to submit a fresh online application along with the application fee and essays. If you wish to update part of your previous application, include the fresh material with your reapplication. An additional essay listing the changes in your profile from the last year is essential and should be filled in the Additional Optional Essay Form. However, it is important to show a significant overall improvement from the previous years in view of extreme intensity of competition.

8) Do you acknowledge receipt of application by mail?
ISB conveys the status of your application online. Do remember to check your application status.

D) Interviews

1) Do you have a GD/Personal Interview as part of the admission criteria?
As a part of the admission process, all short listed candidates will be interviewed. There is no group discussion

2) How many applicants are called for interview in Round-1 & Round-2 and how many selected?
There is no fixed percentage of students being called by the ISB either for interviews or for admission.

3) What will be the mode of my interview if I am overseas at the time of interview?
You will be interviewed over telephone. You have to call the telephone number given in the interview mail sent to you.

E) Fees

1) Can I pay the tuition fees in instalments?
Tuition fees can be paid in two instalments; however, the ISB allows a discount on fees paid one time in full.

2) Are there different fee structures for Indian and International students?
Currently the fee structure is the same for all students.

3) What is the acceptance fee?
The acceptance fee is the non-refundable deposit that you have to pay to secure your place in the class once the offer of admission has been made by the ISB. If this fee is not paid within the deadline mentioned in the admission offer, it will be assumed that the applicant is not interested in joining the programme and the ISB shall release the seat to another applicant on the wait list.

4) a) Is the acceptance fee in addition to the tuition fee?
No. The acceptance fee is part of the tuition fees.

b) I have paid the acceptance fee but due to unavoidable circumstances I will not be able to join the programme. Will the acceptance fee be refunded to me?
No. The acceptance fee is non-refundable.

5) How much time do I have to accept or decline an admission offer?
The ISB should receive your acceptance decision within 15 days from the date of the admission offer along with the acceptance fee.

6) Can the admission offer acceptance date be extended?
No. The acceptance dates are fixed by the Admissions Committee. If the acceptance amount is not received by the due date it will be assumed that the applicant is not interested in the programme and the offer made to the applicant will stand automatically withdrawn.

F) Financial Aid

1) I fulfil the eligibility criteria but cannot afford the full tuition fee. Can the ISB help?

Financial Aid is provided to students in the form of tuition waivers, scholarships and loans. Tuition Waivers: The ISB awards both merit and need based tuition waivers to qualifying applicants ranging from INR 1,00,000 to INR 3,00,000. Details of these waivers will be indicated in the admission offer where applicable.

Scholarships: The details of scholarships available to students are available on our website. Please visit the link http://www.isb.edu/isbweb/isbcms/PGP/Scholarships.Shtml for these details.

Loans: Student loans are available through a few leading financial institutions. Please check the website http://www.isb.edu/isbweb/isbcms/PGP/Loans.Shtml for details.

1) What is the difference between tuition waivers and scholarships?
Tuition waivers are discounts on the tuition fee granted by the ISB and communicated in the admission offer while scholarships are generally granted by other organisations and dependent on your performance in the programme.

2) Does the ISB offer financial aid to International students?
The ISB does offer financial aid to qualifying International students through tuition waivers.

3) What kinds of profiles usually get selected for scholarships?
The selection criteria usually depend on the organisation granting the scholarship. The qualifying process is highly competitive and the selection criteria vary from year to year.

4) How can an applicant apply for a tuition waiver?
The applicant has to write the required essay given in the application form and submit the latest income tax returns and pay slips of all the earning members in the family as supporting document.

5) When can one apply for an educational loan?
Once the admission process has been completed, all admitted students will be informed of the loan application deadlines through a separate mail.

G) Sponsorship

1) Can I get a sponsorship from the company where I am working?
Yes. Applicants are encouraged to get themselves sponsored by their employers.

2) Are there any other criteria to be fulfilled by the applicant for getting sponsorship from their employer?
No, there are no separate admission criteria for such candidates and the regular admission procedure will apply.

3) How does one apply to companies for sponsorships?
Each company has its own policies on sponsoring of high potential employees. It is up to you to ensure sponsorship from the company you are currently employed with.

4) Is there a different fee structure for sponsored students?
No. The fee structure and the selection criteria are universally applicable.

H) Exchange Programme

1) How many students normally go on Exchange Programmes?
The number varies from year to year and the outgoing exchange capacity for 2006-07 was in excess of 60 students. Globally 26 business schools currently participate in the ISB Exchange Network.

2) When do students go on Exchange Programmes?
Students go on an exchange programmes depending upon the mutual schedules of the ISB and the concerned exchanged partner school; this period can range from one to two ISB elective terms, most often terms 7 and 8 although some students do go in terms 5 & 6.

3) What are the selection criteria for the Exchange Programmes?
The students are allotted bidding points which they use to bid for their preferred exchange programme.

4) How does the bidding process work?
Each student is allotted an equal number of bidding points. Each term students must apply their points towards particular courses and the highest bidder is enrolled in each course. Normally most students get a majority of the courses that they bid for.

5) How do people manage possible time-clashes between the placement season and the Exchange Programme?
Most students return during placement week to participate, while others manage their placements from overseas.

6) Will all students admitted be allowed to participate in the exchange programmes?
Yes. For more details please visit http://isb.edu/pgp/ExchangePrograms.Shtml?menuid=106

I) Internship

1) Is there a summer internship at the ISB? If yes, how does it work?
As The ISB has a one year Post Graduate programme, a summer internship is not possible. However, the ISB offers the Experiential Learning Programme (ELP) to benefit students interested in doing projects while on campus. For more on ELP please visit http://isb.edu/pgp/ExperientialLearningProgram.Shtml?

J) Placements

1) When do the Placements start?
Placements normally start in the mid 7th term and go on for a week. While a few companies start coming in from November onwards, the final offers are made/decided during the placement week only.

2) Does the ISB guarantee placements? What are the placements for graduates of the ISB PGP likely to be?
No. The ISB does not guarantee placements but every effort is made by the Career Advancement Services (CAS) Office to help students find and secure their ideal career opportunities. However placements are a function of demand and supply and the CAS helps students manage their career expectations realistically.

3) How was the placement scenario this year? Which are the companies that recruited this year? What was the average salary offered?
You will find details on the placement for the class of 2007 at http://isb.edu/pgp/PlacementStatistics2007.Shtml

K) Faculty

1) What is the role of visiting faculty at the ISB?

The ISB invites faculty to teach a course during a term and they are available on campus throughout the term. Faculty from Wharton, Kellogg, London Business School, Stanford, Chicago, Duke, and Texas among others, have taught at the ISB. For more details please visit http://isb.edu/pgp/BestinClassFaculty.Shtml?menuid=105

2) How accessible are the faculty to the students?

Faculty members are easily accessible to the students, as they stay on campus throughout the term.

L) Credentials

1) Does AICTE/UGC recognise the ISB’s Post Graduation Programme in Management?

The ISB neither offers a diploma nor a degree. It is a certificate programme for students with experience. Therefore, ISB has not sought recognition for their Post Graduate Programme in Management from either the AICTE or the UGC.

M) Infrastructure & Facilities

1) Are all students required to live on campus?

Given the rigor of the course and The ISB’s aim to build a small but highly interactive campus community, it is a fully residential programme for all students.

2) Do you provide accommodation for married students?

ISB offers fully serviced studio apartment with preferential allotment to married students. However, your preferred type of accommodation cannot always be guaranteed, though every reasonable effort is made to address your specific requirements.

3) What all is provided in the accommodation?

Accommodation information can be found in http://isb.edu/KnowISb/Housing.Shtml

4) What are the facilities provide on campus?

The ISB provides the following facilities:

ICICI Bank branch

Daily Needs store- TRINETRA

Infirmary – Branch of Apollo

Recreation Centre – Equipped with Squash, Swimming pool, basket ball ground, Tennis, Table Tennis, Gymnasium, Toddler’s room etc.

House Keeping

Please check the web site for further information http://isb.edu/pgp/WorldClassCampus.Shtml?menuid=105

N) Reservations

1) Do you have any quotas for NRI'S/SC/ST/BC?

No. We do not. However, the ISB encourages applications from candidates with diverse backgrounds.

2) Will Indian and foreign applicants be evaluated on the same basis?

Yes.

O) Campus Visits and Meeting the Alumni

1) I am interested in a Campus tour. How and when can I visit the campus?

Regular campus visits are organized by the ISB on alternate Fridays during the Admission period. For registration please visit http://isb.edu/pgp/MeetourAdmissionOfficers.Shtml?menuid=109

2) How do I contact current batch students?

Please visit http://isb.edu/pgp/ContactAlumni_Students.Shtml?menuid=109 for more details on interacting with the current students.

3) How do I contact the Alumni?

Please visit the link http://isb.edu/pgp/ContactAlumni_Students.Shtml?menuid=109 and complete the online form. Once we receive this request we shall get back to you with the contact details of the alumnus or ask the alumnus to contact you directly.

P) Miscellaneous

1) Will part-time work experience be considered?

Work experience should be full-time. Part-time work experience will not be considered.

2) Will Army service be considered as work experience?

Yes, your work experience will be viewed in the context of the responsibilities you have handled.

3) I have worked in my family owned business for the past three years – will this experience be considered?

If this experience is full-time and if you can support this with relevant documents in your application, you can apply. The quality and relevance of your experience in your business will be critical. You will still have to furnish recommendations. Recommendations from your father, friends and family will not be accepted. You should furnish recommendation from people with whom you have a strictly professional interaction like your clients, vendors etc.

4) Do I need 16 years of formal education?

No, as long as you have been awarded a Bachelor's Degree from a recognized university, you are eligible to apply

5) Do you consider deferral of admissions?

The School does not normally permit deferral of admissions. However, in exceptional cases where applicants are unable to join after accepting the admission offer and depositing the stipulated acceptance fee, the School may consider deferment of admission to the following academic year. Such decisions, if any, will be made only after due validation of the genuineness of the request for deferment and compliance by the applicant concerned with the stipulated requirements. The decision of the School in this regard will be final.

6) How important are extra-curricular activities in the application?

The ISB would like to admit well-rounded students. Extra-curricular activities add that extra dimension to your personality. In the US it is routine for people to do community service, which they can mention as an extra-curricular activity in their applications. But Indian conditions are different, so not having done such activities is understandable. However, if you look deep down, you may find some things that you may have been doing. Did you tutor a kid anytime, did you organize a festival in your apartment complex, did you volunteer your time in some campaign or raise funds for some cause, etc.? If you haven't done anything at all, it's never too late to start. Don't do it just to get your B-school admission, but do what interests you. If you are in the IT area, think of something related to IT that you can do after office hours. How about persuading your company to donate their obsolete computers to charity? The possibilities are endless.

7) Will I need to buy text books?

Although most study material is included in the course packs, periodically you will need to buy text books for various courses. The expenditure on text books for the programme is estimated at INR 15,000-INR 20,000.

8) Are there any schools for children in the vicinity of the ISB?

Yes. There are a number of schools around The ISB. More information is available upon request.

9) Having done an MBA, am I eligible for the ISB programme?

There is no restriction in applying to our Programme but you should demonstrate very good reasons in your application for wanting to do the PGP from The ISB.

10)I have completed a three year diploma course but do not have an under-graduate degree. Am I eligible for the ISB Programme?

The eligibility criterion at the ISB requires all students to have an undergraduate degree. If your diploma is considered to be equivalent to a degree by the appropriate authorities then it will be acceptable otherwise not.

ISB Admission - Fee Structure & Financial Aid

The ISB provides a world-class management education and experience comparable to that offered at its global partner schools. The added advantage is a tuition fee that is approximately less than half the average cost of a typical top 10 B-School.

Programme Expenses

The ISB is committed to enrolling the best qualified students, regardless of the ability to pay. The School awards institutional grants and corporate-sponsored scholarship assistance in addition to facilitating agreements with financial institutions to provide long-term, low-interest loans.

Miscellaneous Expenses

Please also budget for some miscellaneous expenses which may vary depending on your needs and preferences (like schooling for children, sightseeing, etc.)

Exchange Programme Expenses

If you wish to participate in the exchange programme certain expenses have to be borne by the student depending upon the travelling and accommodation costs incurred. It may vary from USD 6000 to USD 10000 (approx.) depending upon the school you have been admitted to.

*Note:

1. USD amounts are approximate. The fee structure shown is for the Class of 2008 and is subject to revision.
2. The School realises its fee in Indian Rupees. There are options available to make payments in foreign currency also; in which case the amount realised must be equivalent to the amounts fixed in INR. Service Tax, if any, will be charged extra. At present ISB does not charge any service tax with respect to the educational programme. But should we be subject to it by a Service Tax Departmental order at a future date, then we reserve our right to collect the same from you. At present the service tax rate in India is 12.24%.
3. It is mandatory to live in the campus.
4. Tuition fees cover course packs provided but certain courses require mandatory text books over and above the study material supplied by ISB.
5. Every student is required to have a laptop computer. You can buy one from vendors identified by the School (ISB will help you to get special rates) or bring your own. Rates may vary according to the model opted for.
6. Expenses pertaining to meals can differ depending upon the plan opted. The residential facilities have kitchens for people who would like to cook.

Loans

The ISB has inked loan agreements with three leading banks/institutions that provide funding to cover up to 95% of the programme cost.

• Programme cost includes tuition fees, living expenses, Food, Laptop and books.
• Loans are offered at lowered interest rates starting from 8.25 % per annum.An additional privilege extended to ISB students is that the loans are available without any collateral.
• Over 70% of ISB students have taken educational loans from banks in the past.
• Life Insurance is mandatory for the loan amount availed.
• Only Indian passport holders are eligible to avail these loans.

• If a student receives an educational loan, the ISB will be the primary recipient of the funding awarded, until the course cost is covered. Any amount above and beyond this will be passed on to the student.
• The information provided in this window aims to be correct as far as possible at the time of publication, but ISB reserves the right to make changes to any or all the matter cited here.

Scholarships For 2007-08

Each year the ISB awards several scholarships, in the form of fee remission, to outstanding candidates. These scholarships vary in amounts and include some full scholarships. Scholarships are both need and merit based. Recipients are selected on the basis of exceptional academic and professional performance, as well as personal qualities such as leadership, integrity, and community service.

As an admitted student, you will be automatically considered for these awards and will be notified of any decision at the time of admission. The ISB will award approximately 100 scholarships ranging between INR 1,00,000 to 3,50,000.

The ISB also partners with several corporates to provide scholarships during the course of the academic year. Citibank, HSBC and Novartis Group offer scholarships up to INR 11,00,000. Application criteria and selection procedures vary for each of these.

Below is a summary of the School, Company and external scholarships that are available to students.

* Application process and interview(s) by the sponsor.

• If a student receives a scholarship, the ISB/Banks (in case of student having taken an educational loan) will be the primary recipient of the funding awarded, until the course cost/loan is covered. Any scholarship amount above and beyond this will be passed on to the student.
• The information provided in this window aims to be correct as far as possible at the time of publication, but ISB reserves the right to make changes to any or all the matter cited in this post.