Battling vacant seats and a dip in campus placements, more than 100 business schools offering MBA degrees and postgraduate diplomas in business administration applied for closure in 2017-18, according to officials familiar with the development.
Data with the All India Council for Technical Education (AICTE), the apex body of technical and management institutes, shows that a total of 101 management institutes wrote to it seeking voluntary closure. The largest number of them were from Uttar Pradesh (37), followed by 10 each from Karnataka and Maharashtra. Most of these requests are likely to be accepted, the officials said. In 2016-17, 76 management institutes closed down and in 2015-16, 66 did, according data provided by AICTE. Both were not-so-good years for the Indian economy.
“There is a reduction in demand for some of the specialisations, especially marketing. There is also an increase in number of deemed and state private universities,” said a senior AICTE official.
