Pursuing an MBA is a dream for many Indian students, but the high tuition fees at IIMs, ISB, and top global universities often make it unaffordable. Thankfully, there are several MBA scholarships for Indian students that provide financial assistance, tuition fee waivers, and even living expense coverage.
Whether you want to study in India or abroad, scholarships can reduce the financial burden and make a world-class MBA degree accessible. In this blog, we’ll cover the best MBA scholarships for Indian students in 2025, their eligibility, application process, benefits, and career opportunities.
MBA Scholarships for Indian Students in India
Some popular scholarships for MBA in India:
- IIM Fellowships & Scholarships (Need-based + merit-based aid).
- ISB Hyderabad Scholarships (Waivers up to 100%).
- OPJEMS Scholarship (₹1.5 lakh annually for MBA students).
- Aditya Birla Scholarship (for IIM-A, IIM-B, IIM-C, XLRI students).
- IDFC FIRST Bank MBA Scholarship (₹2 lakh financial aid).
MBA Scholarships for Indian Students Abroad
Top international MBA scholarships for Indian students include:
- Stanford Reliance Dhirubhai Fellowship (USA).
- Harvard Business School Scholarships.
- INSEAD Business School Scholarships (France/Singapore).
- Oxford Pershing Square Scholarship (UK).
- DAAD Scholarships (Germany).
Government MBA Scholarships for Indian Students
Government of India offers multiple MBA scholarships:
- National Fellowship and Scholarship for Higher Education (SC/ST students).
- AICTE PG Scholarship Scheme (GATE-qualified MBA students).
- Central Sector Scheme of Scholarships (for top 20% students).
Private MBA Scholarships for Indian Students
Some private organizations support MBA students:
- Tata Scholarship for Cornell MBA (USA).
- J.N. Tata Endowment Loan Scholarship.
- Inlaks Shivdasani Foundation Scholarships.
- Narotam Sekhsaria Scholarship.
UGC Approved MBA Scholarships in India
UGC also supports MBA students through:
- UGC National Merit Scholarship.
- UGC Junior Research Fellowship (for MBA research aspirants).
- Rajiv Gandhi National Fellowship (SC/ST/OBC students).
MBA Scholarships for Indian Students in USA
Top scholarships include:
- Stanford Reliance Dhirubhai Fellowship.
- Fulbright-Nehru Fellowships.
- Columbia Business School MBA Scholarships.
- Kelley School of Business (Indiana University) MBA Aid.
MBA Scholarships for Indian Students in UK
Scholarships available:
- Chevening Scholarships (UK government).
- Oxford Pershing Square Scholarship.
- Cambridge MBA Bursaries.
- London Business School (LBS) MBA Scholarships.
MBA Scholarships for Indian Students in Canada
Top options:
- Rotman School of Management (Toronto) Scholarships.
- Ontario Graduate Scholarship (OGS).
- Alberta MBA Scholarships.
- Sauder School of Business Scholarships.
MBA Scholarships for Indian Students in Australia
Popular scholarships:
- Deakin University MBA Scholarships.
- University of Melbourne Graduate Scholarships.
- UNSW Business School Scholarships.
- Australia Awards Scholarships.
MBA Scholarships for Indian Students in Europe
Europe offers affordable + funded MBAs:
- DAAD Scholarship (Germany).
- Erasmus Mundus MBA Scholarships.
- INSEAD MBA Scholarships (France/Singapore).
- HEC Paris MBA Scholarships.
MBA Scholarships for Indian Students Without GMAT
Many universities now offer scholarships without GMAT requirement:
- University of London Online MBA Scholarships.
- Deakin University MBA Grants.
- Chandigarh University Online MBA Scholarships.
Need-Based MBA Scholarships for Indian Students
Need-based scholarships include:
- ISB Hyderabad Need-Based Waivers.
- IIM Financial Aid Programs.
- Tata Capital Pankh Scholarship.
Merit-Based MBA Scholarships for Indian Students
Awarded to students with strong academics:
- Aditya Birla Group MBA Scholarship.
- OP Jindal MBA Scholarship.
- NMIMS & XLRI Merit-Based Waivers.
MBA Scholarships for Women in India
Specially designed for female aspirants:
- Forté Foundation Fellowships.
- Laidlaw Women’s Leadership MBA Scholarships.
- ISB Women in Business Scholarship.
- UGC Postgraduate Indira Gandhi Scholarship for Single Girl Child.
Fully Funded MBA Scholarships for Indian Students
Some programs cover tuition + living costs:
- Stanford Reliance Fellowship (USA).
- Oxford Pershing Square Scholarship (UK).
- Chevening Scholarships (UK government).
- DAAD Fully Funded Scholarships (Germany).
How to Apply for MBA Scholarships in 2025
Steps include:
- Research scholarships based on country/university.
- Check eligibility criteria (marks, experience, test scores).
- Prepare documents (SOP, LORs, transcripts, financial proof).
- Apply before deadline.
- Appear for interview (if required).
Case Studies of Indian Students Winning MBA Scholarships
- An Indian student at Stanford GSB received the Reliance Fellowship, covering full tuition.
- A female student at ISB Hyderabad got a 50% fee waiver under the Women in Business Scholarship.
- A middle-class student at IIM Ahmedabad secured an Aditya Birla Scholarship, reducing financial burden.
FAQs
Q1. Which is the best MBA scholarship for Indian students abroad?
Stanford Reliance Dhirubhai Fellowship, Chevening, and DAAD are top options.
Q2. Can Indian students get fully funded MBA scholarships?
Yes, at Stanford, Oxford, DAAD, and Chevening programs.
Q3. Are MBA scholarships available in India?
Yes, through IIMs, ISB, Aditya Birla, OP Jindal, and IDFC FIRST Bank.
Q4. Do I need GMAT for MBA scholarships abroad?
Not always. Some universities accept applications without GMAT.
Q5. How much scholarship can I get for MBA?
Ranging from ₹2 lakh (India) to full tuition + living costs abroad.
Conclusion
An MBA scholarship for Indian students is a golden opportunity to pursue a world-class education without heavy financial burden. From Indian programs like IIMs, ISB, and Aditya Birla to global scholarships like Stanford Reliance, Chevening, and DAAD, there are numerous options in 2025.
👉 Start early, prepare strong SOPs, and apply strategically. With the right scholarship, you can achieve your MBA dream in India or abroad.