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Master of Business Administration (MBA) is two years degree course in the field of management. In India, MBA degree can be awarded by any recognised university or by a business school affiliated with a university. Post Graduate Diploma in management (PGDM) is a two years Diploma course offered by the institutes that are recognised by All India Council for Technical Education (AICTE), and are autonomous and not affiliated with any university. It is not mandatory that a PGDM is equal to MBA. PGDM institute’s accreditation by Association of Indian Universities (AIU) makes an institute's PGDM course equivalent to an MBA.
There are a large number of similarities between the curriculum of both MBA and PGDM. An MBA institute follows a fixed curriculum as it will be based on the university guidelines which occasionally may not be aligned with the industry requirements. Autonomous institutes do not follow university standards, so it has the flexibility to align its curriculum according to industry standards, and change in the business environment. PGDM program of IIMs and XLRI have more value than MBA. However, MBA of FMS-DU and IIFT have similar value as IIMs. Students are advised to choose an institute based on its ranking. not on the nomenclature of degree.
For ranking of different institutes, visit the following link:
https://www.shiksha.com/mba/ranking/top-mba-colleges-india/2-2-0-0-0