Its nice to see a case in which an Indian Institute of Management (IIM) has been chosen over Stanford University. The choice wasnt between MBA at the two institutes but it is still a tough decision. Every year, a large number of Indians go overseas for MBA programs at foreign universities. It is true that the IIMs barely figure in the top 100 b-schools in the world but India is among the fastest growing economies in the world and graduates of foreign b-schools return to India for work in limited cases. Foreign b-school graduates are coming to India for internships and now we have a case of an IIM being preferred to a premier foreign school like Stanford.
The economic recession has severely affected the US economy and graduates of American b-schools are finding it difficult to get jobs for themselves. India has been relatively less affected by the recession and it has been forecast that emerging economies will recover faster. In this case, the student chose IIM Ahmedabad keeping in mind the growth in Indias management sector. Stanford would have given him the chance to get a place for himself in Silicon Valley but the current situation of the US economy may have influenced his decision.
The recession may tilt the balance towards the IIMs and other top Indian b-schools. It is up to students to recognize the growth opportunities that India provides and to decide whether they wish to study management and work in India.
It is not easy to make difficult decisions such as the one made in this case. A lot of factors need to be considered and evaluated before arriving at a decision. One can only hope that in future the IIMs improve to such an extent that it becomes much easier to choose.