While ISB fell by nine places to 32nd rank for its Post Graduate Programme in Management (PGP), the Indian Institute of Management (IIM) Bangalore fell by 18 places to rank at 53rd position down from last year's 35th rank.
IIM Ahmedabad declined by 14 places to 62nd rank globally while IIM Calcutta was ranked 68th, down by 24 places from 44th position last year.
The FT rankings are based on data provided by participating schools and alumni, with significant weightings given to salary and salary increase three years after completion, as well as factors including academic research output, and student and faculty diversity measured by gender mix and citizenship.
Apart from being top ranked in India and fourth in Asia in the FT Global MBA 2022 ranking, ISB was ranked number one globally in terms of salary percentage increase, underlining ISB students' career path.
ISB's efforts and initiatives in fostering gender diversity in all its programmes have started to shine as the 38 % of female students in the surveyed class is the highest number compared with other FT 2022 ranked schools in India.
ISB was also ranked at 11th place globally in the Poets & Quants (P&Q) composite ranking of the top international MBA programmes of 2021-2022, apart from being top ranked among Indian B-schools. P&Q ranks programmes based on data gained from popular and influential ranking sources.
Commenting on the rankings, ISB's deputy dean - academic programmes, Ramabhadran Thirumalai said that even as the career progression of ISB students has always paved the way for new growth trajectories, the global number one rank in salary percentage increase by FT reiterated the same.
Overall, US B-schools took most of the top places in the FT 2022 ranking with Wharton, Columbia, Harvard, and Northwestern: Kellogg grabbing the first, second, fourth and fifth spots, respectively, while Insead was placed third.
 "Indian School of Business, ISB")