Rajat Gupta, Chairman, ISB, said, "This is great news. The ISB graduated its first class in 2002 with a vision to establish an internationally top-ranked, research-oriented B-school in India. I am extremely proud that the students, faculty and staff have achieved this in such a short time. I am also delighted that the ISB has brought such academic and international recognition to India."

Within a span of six years, the ISB has made a mark for itself. It has successfully pioneered several initiatives in the field of management education by bringing in international best practices and people.

The ISB introduced the one-year programme, unique portfolio model of faculty, accepting students with prior work experience and diverse backgrounds, the GMAT score as a selection criterion, lateral placements, international quality research and several other initiatives. Being ranked 20 among global B-schools is a validation of the ISB's effort to establish an international B-school located in India.

Speaking on the occasion, M Rammohan Rao, Dean, ISB, said, "This is a vision come true for all of us at the ISB. We owe a lot to our faculty for their research work and for publishing in top tier journals. Our students and our staff have contributed a great deal for our achievement."

Looking ahead, the ISB intends to focus on ramping up its student numbers, increasing the strength of its faculty and setting up more research centres.