The ranking was made from a total number of 542 business schools who submitted data for the rank, an IIT-Kharagpur release said today.
The National Institutional Ranking Framework (NIRF) was approved by the MHRD.
IIT Kharagpur's Vinod Gupta School of Management (VGSoM) was ranked seventh, while the management schools of IIT Delhi and IIT Roorkee were ranked sixth and eight.
The key strength of these three B-schools has turned out to be research and professional practice for which they are the top-ranking B-schools in India, the release said.
Acting Dean of Vinod Gupta School of Management (VGSoM), IIT-KGP, Prof Prabina Rajib said, "Faculty must undertake innovative and deep-learning R&D projects to add new dimensions to classroom teaching".
VGSoM was modelled on similar lines of the Sloan School of Management at MIT, while aligning itself to the research focus of its mother institution IIT-KGP.
IIT-KGP was the first IIT and among the foremost engineering colleges to set up a business school. VGSoM was set up in 1993.
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