Barring a handful of top business schools such as the IIMs, most business schools in the country are producing sub-par graduates who are largely unemployable, and therefore earning less than Rs 10,000 a month, if at all they find a job, a report has pointed out.

The report blames the lack of quality control and infrastructure, low-paying jobs through campus placement, and poor faculty as the major reasons behind the disaster.

India has at least 5,500 B-schools operational, but including unapproved institutes could take that number much higher, the report by Assocham said, expressing concern over the decay in the standards of these B-schools.

“Only 7 per cent of MBA graduates from Indian business schools, excluding those from the top 20 schools, get a job straight after completing their course,” it found. “Around 220 B-schools have shut down in the last two years in Delhi-NCR, Mumbai, Kolkata, Bangalore, Ahmedabad, Lucknow, Hyderabad, and Dehradun, and 120 more are expected to wind up in 2016.”