Why Consider an MBA Abroad?
An MBA degree opens doors to rewarding career opportunities in diverse sectors, including marketing, sales, hospitality, consulting, and more. Indian students often choose to pursue an MBA abroad for several compelling reasons:
- Global Recognition: A degree from a top international business school is recognised worldwide, enhancing career prospects.
- Networking Opportunities: Connect with international professionals, alumni, and industry leaders for global career growth.
- High ROI: Higher salaries and global job placements offer excellent returns on investment.
- Global Exposure: Gain insights into international business challenges, leadership, and innovation.
- Scholarship Opportunities: Many top B-schools offer scholarships to make education accessible for Indian students.
Top MBA Colleges Abroad for Indian Students- Scholarships
The following is a list of scholarships that can help you achieve your dream of pursuing an MBA degree from overseas.
1. Boustany MBA Harvard Scholarship
The Boustany Foundation offers the Boustany MBA Harvard Scholarship to support outstanding Indian students pursuing an MBA at Harvard Business School. The scholarship covers 75% of tuition fees and also funds travel and accommodation for a two-month internship in Monaco, empowering individuals with exceptional academic records and leadership potential to achieve global business success.
Eligibility Criteria:
- Candidates must have an excellent academic background and demonstrate strong potential. Although the scholarship is open to candidates of any nationality, preference will be given to those of Lebanese descent.
- Applicants can apply for the scholarship only after receiving an offer of admission to the Harvard MBA program.
Benefits: The scholarship offers financial aid covering 75% of the tuition fees, along with travel and accommodation expenses related to the internship.
2. Stanford Reliance Dhirubhai Fellowship, USA
The Reliance Foundation awards the esteemed Stanford Reliance Dhirubhai Fellowship to empower exceptional Indian students pursuing an MBA at Stanford Graduate School of Business. Covering up to 80% of tuition and fees, approximately US$150,000 (1,28,73,225), this fellowship supports those with outstanding academic records, leadership potential, and a commitment to India’s development. It also includes funding for living expenses and health insurance, making global education accessible.
Eligibility Criteria
- Indian citizens who reside or work in India are eligible to apply.
- Applicants must have, or be in the final year of, a U.S.-equivalent bachelor’s degree, which requires a minimum of 16 years of education.
- They must meet the Stanford MBA admission requirements, including valid GMAT or GRE scores, and one of the following English proficiency tests: a TOEFL iBT score above 100, an IELTS score above 7.0, or a PTE score above 68. Additionally, applicants must submit essays, a Statement of Purpose (SOP), and letters of recommendation.
- Candidates should demonstrate strong leadership potential, intellectual vitality, a deep commitment to India’s development, and financial need.
- Although prior work experience is not mandatory, Stanford typically prefers applicants with at least two years of professional experience. Finalists must hold valid and competitive test scores.
Benefits: The scholarship covers 80% of the total cost of the Stanford MBA valued at approximately US$150,000 (1,28,73,225) over two years, including a full tuition waiver, along with living expenses, health insurance, course fees, and other university-related charges.
Application Process: Through the official website of Stanford Business School of Graduate.
3. Deepak and Sunita Gupta Endowed Scholarship (s)
Eligibility Criteria: Candidates from emerging/developing countries who can demonstrate proven financial need.
Benefits: Up to €25,000 (₹25,07,025)
Application Process: Applicants must submit their essays and supporting documents online. Only one application is required to be considered for all the scholarships listed above. Each selected candidate will receive only one scholarship. The Scholarship Committee will determine the most appropriate award for each applicant.
4. London Business School Fund Scholarships
London Business School awards the LBS Fund Scholarships to outstanding MBA candidates with exceptional academic and professional achievements. These merit-based scholarships, covering up to full tuition, support talented Indian students in pursuing a world-class MBA in London. By promoting diversity and leadership, LBS ensures that financial constraints do not hinder global business aspirations.
Eligibility
- Candidates must have secured admission to the full-time MBA programme at London Business School.
- Scholarships are primarily awarded to outstanding candidates of Indian origin or Indian nationals.
- A strong academic record, including high scores in undergraduate studies and GMAT/GRE, is essential.
- Applicants should demonstrate significant professional accomplishments and leadership potential.
- The scholarship is awarded purely on merit, academic, professional, and leadership achievements, regardless of financial background.
- Candidates who can contribute to the school’s diverse community and show potential for global business impact are highly valued.
Benefits: The scholarship can cover up to the full tuition fee for the MBA program, which is £119,950 (approx. ₹1,38,49,079) for the 2025 intake.
Application Process: The students will be considered for the scholarship automatically while applying for the MBA program at London Business School.
5. Joseph Wharton Fellowship for MBA Students
The Wharton School at the University of Pennsylvania awards the prestigious Joseph Wharton Fellowship to exceptional MBA students, including Indian applicants, who demonstrate outstanding academic, personal, and professional achievements. This merit-based scholarship offers significant tuition support, providing nearly $40,000–$80,000 (₹34 to 60 lakh) per annum for two years, and enables recipients to pursue a world-class MBA education. Named after the school’s founder, the fellowship reflects Wharton’s commitment to developing global business leaders.
Eligibility
- Applicants are expected to demonstrate a solid academic foundation, reflected in a high GPA, strong GMAT/GRE scores, or exceptional performance in undergraduate and/or postgraduate studies.
- Evidence of leadership abilities can be shown through professional work experience, active participation in extracurricular activities, community service initiatives, or entrepreneurial ventures.
- A track record of significant achievements, a clear growth trajectory, or a meaningful impact in current or previous professional roles is highly regarded.
- Candidates should exhibit well-defined career goals, a global perspective, and a personal vision that aligns with Wharton’s core values and mission.
- Wharton values applicants from a wide range of industries, geographic regions (including India), and personal backgrounds, recognising the unique contributions that diverse perspectives bring to the learning environment.
Benefits: Nearly $40,000–$80,000 (₹34 to 60 lakh) per annum for two years
Application Process: All applicants to the Wharton MBA program are automatically considered for this fellowship.
6. India Trust Fellowship
The University of Chicago Booth School of Business awards the renowned India Trust Fellowship to two outstanding Indian MBA candidates each year. Valued at US$10,000 (approximately ₹8.57 lakh), this scholarship recognises academic excellence, co-curricular achievements, and leadership potential, helping recipients fund their tuition and pursue a world-class MBA education.
Eligibility Criteria
- Candidates must be Indian nationals admitted to the full-time MBA program at Chicago Booth.
- Applicants should demonstrate academic excellence, co-curricular achievements, and strong skills in leadership or community involvement.
- Open to both working professionals and students at the time of application.
Benefits: US$10,000 (approximately ₹8.57 lakh) per recipient, applied directly to tuition fees.
Application Process: All applicants to the MBA program at the University of Chicago Booth School of Business will be considered for this financial aid, and the scholarship application will be submitted along with the degree application.
7. The Glasgow MBA Scholarship
The University of Glasgow offers the Glasgow MBA Scholarship to high-achieving candidates from across the globe, including India. Awarded based on academic excellence, professional accomplishments, and leadership potential, this prestigious scholarship provides up to €18,750 (approximately ₹17.03 lakh) toward tuition fees, enabling students to pursue a world-class MBA experience at a renowned institution.
Eligibility Criteria:
- Applicants must be nationals of specified countries, including India.
- Students must have secured an unconditional offer or a conditional offer (contingent only on IELTS) for the MBA program at the University of Glasgow for the September 2025 intake.
- Candidates must demonstrate a strong academic record (e.g., 1st Class Honours) or an excellent record of professional achievement.
- Financial circumstances may also be considered.
Benefits: A one-time scholarship of up to €18,750 (approximately ₹17.03 lakh), applied directly to tuition fees.
Application Process: Eligible applicants can apply through the official website of the University of Glasgow.
8. Chief Minister’s Overseas Scholarship Scheme for Minorities
Launched by the Minorities Welfare Department, Government of Telangana, the Chief Minister’s Overseas Scholarship Scheme for Minorities, Telangana began in the academic year 2015-16. The scheme aims to support students from minority communities in pursuing postgraduate and doctoral studies at foreign universities. Under this initiative, financial assistance is provided to 500 eligible minority students each year to help them achieve their academic goals abroad.
Eligibility Criteria:
- The applicant must be a resident of Telangana.
- The applicant must belong to a recognised minority community.
- As of 1st July of the application year, the applicant should not be older than 35 years.
- Only one child from each family is eligible to apply for the scheme.
- The scholarship is awarded only once in a lifetime; therefore, applicants who have previously received it are not eligible to apply again.
- The applicant must have a valid TOEFL or IELTS score, as well as a GRE or GMAT score, depending on the course requirements.
- The applicant must have secured admission to an accredited foreign university.
- The applicant must possess a valid passport at the time of application.
- The total annual family income from all sources should not exceed ₹5 lakhs.
- For postgraduate courses, the applicant must have obtained at least 60% marks or an equivalent grade in a foundational degree in Engineering, Management, Pure Sciences, Agricultural Sciences, Medicine, Nursing, Social Sciences, or Humanities.
- For Ph.D. courses, the applicant must have secured at least 60% marks or an equivalent grade in a postgraduate degree in Engineering, Management, Pure Sciences, Agricultural Sciences, Medicine, Social Sciences, or Humanities.
- Applicants can pursue higher studies in the following countries: the United States of America, the United Kingdom, Australia, Canada, Singapore, Germany, New Zealand, Japan, France, and South Korea.
Benefits
| Category | Details |
| Fee Payment | Instalment I: ₹10.00 lakhs or actual fee (whichever is less), on submission of landing permit/I-94 Card. Instalment II: ₹10.00 lakhs or actual fee (whichever is less), on submission of 1st semester results. |
| Grant Sanction | Covers tuition and living expenses; issued upon course enrollment. Can be used for visa processing. |
| Educational Loan | Available from any nationalised bank at prevailing interest rates. |
| Additional Support | Awardees may take up Research/Teaching Assistantships. |
| Travel Assistance | One-way airfare provided to selected candidates. |
Application Process: Eligible applicants can apply for the scholarship through the official “Telangana ePass” portal.
Also Read: Scholarships for Girls and Women in India
Frequently Asked Questions
What are the top MBA colleges abroad offering scholarships for Indian students?
Top MBA colleges offering scholarships to Indian students include Harvard Business School (Boustany MBA Scholarship), Stanford GSB (Reliance Dhirubhai Fellowship), INSEAD (Deepak and Sunita Gupta Scholarship), Wharton (Joseph Wharton Fellowship), London Business School (LBS Fund Scholarships), and Chicago Booth (India Trust Fellowship). Scholarships may cover tuition and living expenses, with amounts ranging from ₹8.5 lakh to ₹1.25 crore.
How can Indian students get scholarships for MBA programs abroad?
To get scholarships, Indian students should first gain admission to a reputed MBA program. Then, apply for merit- or need-based scholarships with strong academic records, GMAT/GRE scores, essays, and letters of recommendation. Programs like Stanford’s Reliance Fellowship or INSEAD’s Gupta Scholarship require early applications. Buddy4Study and university portals provide listings and application support.
Which are the most affordable MBA programs abroad for Indian students?
Affordable MBA options include the University of Glasgow (up to ₹17 lakh scholarship), IE Business School (Asia Pacific Talent Scholarship), and institutions in Germany (ESMT Berlin) or Canada (Rotman). Tuition in these countries ranges from ₹30 to ₹60 lakh, with scholarships reducing the financial burden. Post-study work opportunities further enhance return on investment.
Are there MBA programs abroad without GMAT for Indian students with scholarships?
Yes, some B-schools like INSEAD, IE Business School, and others in Europe may waive the GMAT for candidates with exceptional academic or work profiles. Scholarships like the IE Asia Pacific Talent Scholarship (40% tuition) and Glasgow MBA Scholarship (€18,750) are available even for GMAT-waived applicants. Check each school’s eligibility criteria for waivers.
What are the cheapest countries for Indian students to pursue an MBA with scholarships?
Germany, Canada, and Ireland offer affordable MBA options. Schools like ESMT Berlin and Mannheim provide programs at ₹30–50 lakh, and scholarships like DAAD are available. Canada’s Rotman and Ireland’s UCD Smurfit also offer scholarships, reducing tuition to ₹40–60 lakh. The UK’s University of Glasgow provides a €18,750 scholarship, making it cost-effective.
Why pursue an MBA abroad instead of in India for Indian students?
An MBA abroad offers global exposure, elite faculty, and broader job opportunities in consulting, tech, and finance. Scholarships like the ₹1.25 crore Reliance Dhirubhai Fellowship make top programs affordable. Access to international networks, modern curricula, and post-study work visas (e.g., UK Graduate Route) ensure better ROI and career growth.