The Indian economy has been growing at an accelerated rate since the initiation of economic reforms in 1991. Today, India stands as the fourth largest economy in the world, next only to USA, China, and Japan, in terms of purchasing power parity. In the coming years this growth is expected to continue. Growth in the manufacturing and services sectors of the economy has resulted in tremendous demand for professional managers, which in turn has triggered rapid growth in educational institutions offering graduate programs in management.