India has over 3000 business schools and most of them are of questionable quality. This is about three times the number of business schools that exist in the U.S. and the difference becomes stark when the Indian economy is one-tenth of the U.S. economy as stated by Dr. Rahul Choudaha in his blog post here.
Dr. Rahul says that there is a bubble and I am in agreement with his view. One reason for the mushrooming of the business schools is the poor quality of undergraduate education. Most undergraduate students find that they are not employable and believe an MBA education will be the panacea.
I do not believe that the bubble will burst soon. Things have to get worse before they get better.
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