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ICFAI Group of Institutions: Setting benchmarks in India’s higher education landscape

February 20, 2023

Established in 1984 as a not-for-profit society with the objective of “empowering citizens through world class quality education”, the ICFAI Group of Institutions has built a legacy of excellence in higher education. ICFAI’s phenomenal journey commenced with the launch of a high-end, innovative professional program in financial analysis in 1985. Promoted by NJ Yasaswy, an eminent academic and educationist, the privately funded fledgling institution scripted an unparalleled success story, paving way for the establishment of a reputed education conglomerate that boasts several business schools and universities across the country.

Over the years, the ICFAI Group has made its mark in India’s education landscape with a pan-Indian network of 11 universities, 9 B-schools, 7 tech schools, 8 law schools and a huge flexible learning program.

ICFAI institutions strive to “nurture students as DOERS and to inculcate in them a spirit of research and analysis and entrepreneurial mindset.” All the academic programs are designed to equip students and professionals with the ability to take risks, make decisions and own their work.

Innovation — a strong forte of the ICFAI Group — is reflected in its programs as well as its culture. Unsurprisingly, several of the nine campuses of ICFAI Business School (IBS, estb. 1995) are routinely ranked among the top B-schools of India for their rigorous academics, excellent infrastructure and commitment to nurture capable leaders of tomorrow.

N. J. Yasaswy, Founder

Late N. J. Yasaswy (1950-2011), founder of the ICFAI Group of educational institutions, was widely regarded as a pioneer in promoting privately funded higher education in the country. With a brilliant academic career (B.Com topper of Andhra University, CA Inter and CA Final – first rank, ICWA Inter and ICWA Final – first rank), he was a recipient of the Basu Foundation Award for the Best Student of the Year from The Institute of Cost and Works Accountants of India (in 1972) and The Institute of Chartered Accountants of India (in 1973).

During 1974-1980, Yasaswy was associated with the Administrative Staff College of India as a faculty member. In 1981, he started his consultancy firm, Yasaswy Management Associates Private Limited, Hyderabad. He was appointed by the Government of Andhra Pradesh as chairman, Andhra Pradesh State Trading Corporation (1985–88), and Vice-Chairman, Public Enterprises Management Board (1986–88). He was a visiting faculty member at the Indian Institute of Management-Ahmedabad (1986-88) and was nominated as a member of the SEBI Committee on Accounting Standards. He also served as a member of the Board of Directors of the Association of Certified International Investment Analysts (ACIIA), Switzerland and has authored several books on finance and investment.



Setting benchmarks of excellence in higher education

In consonance with ICFAI’s institutional objective of creating value through innovation, all its programs are designed and continuously upgraded to meet the demands of the rapidly evolving workplace and the industry. Innovation is deeply ingrained in the Group’s ethos since its inception. The introduction of case study methodology at ICFAI Business Schools (IBS) is a testimony to its culture of innovation. The Case Research Center at IBS — widely regarded as a center of excellence — has won several national and international accolades.

Moreover, ICFAI employs cutting edge technology in all its campuses thereby creating unparalleled experience for students on campus. Flexible and tech-enabled learning also plays an important role in ICFAI’s teaching-learning processes with a hi-tech learning management system employed for the delivery of on-campus and Online learning programs.

Focused on learning rather than instruction, ICFAI is engaged in important areas of research covering environmental sustainability, agricultural economics, health policy, financial economics, banking, intellectual property rights etc. The research has been path breaking, compounded by good quality publications in these areas.

Another distinguishing feature of the ICFAI institutions is their commitment to nurturing and developing entrepreneurial spirit among its students. ICFAI graduates are equipped with excellent decision making and risk taking abilities and ownership, whether employed or self-employed.


Case Research Center (CRC)

ICFAI institutions are among the handful of institutions in India that have made case-based learning a critical component of pedagogy. At ICFAI almost all the courses are taught through case studies which are tailor-made to the requirements of different disciplines and topics. Student evaluation is based on class participation and written reports. Students go through the cases individually, discuss in small groups and participate in the case discussion in the class. Both Indian and international case studies are used extensively.

Case Research Center (CRC) — a centre of excellence of the ICFAI Group developing high quality internationally benchmarked case studies — has evolved into a center of excellence that has won several international accolades.

A dedicated and dynamic team works toward fulfilling ICFAI’s mission of developing high-quality case studies for its constituent institutions as well as contributing cases to other B-schools and organizations through The Case Centre, UK. ICFAI currently contributes 6892 cases to The Case Centre, UK which accounts for more than 8 % of its entire repository of cases.

As the world’s second largest contributor of cases, ICFAI CRC is next to Harvard in The Case Centre’s list of bestselling cases in the world. Moreover, CRC’s market share in bestselling cases is 13 percent, next to Harvard’s 21 percent. 

More than 900 B-schools from over 80 countries across the globe use ICFAI case studies. Some of the leading B-schools that use ICFAI case studies include London Business School, London School of Economics, Oxford Said Business School, Cambridge Judge Business School, HEC Paris, HEC Montreal, etc. In India, top schools such as IIMs, ISB, SP Jain, and Symbiosis among others.


IUP Publications

Incepted to empower its readers with pertinent knowledge, IUP Publications is a division of the ICFAI Group that brings out a portfolio of publications including magazines and journals in the niche areas of management, finance, economics, science & technology and arts & humanities. The publications are designed to cater to the needs of executives, managers, professionals, practitioners, entrepreneurs, advocates, academia and students.

Magazines such as The Global Analyst – an exclusive monthly magazine on business and finance, HRM Review, Marketing Mastermind, Treasury Management, Portfolio Organizer, Global CEO, and IUP’s World of Internet of Things feature in-depth articles on domain-specific and interdisciplinary topics, debates, interviews, case studies and book reviews.

The IUP journals comprise research papers published by academics from universities/research establishments/industry experts from India and abroad in various domain areas. Presently, the journals cover the disciplines of Finance, Accounting and Audit Practices, Management, Marketing, Organizational Behavior, Operations Management, Economics, Technology, Law, and Arts and Humanities. The journals are double-blind refereed and published quarterly. Currently IUP publishes 27 journals all of which are UGC approved and are also listed in the database of and distributed digitally by EBSCO and ProQuest.

Excellent international collaborations and industry partnerships

Discerning the importance of international exposure in an increasingly globalized world, the ICFAI Group of Institutions boasts excellent networking relationships with leading institutions and professional organizations across the globe. Among them: Bentley University, Massachusetts; Syracuse University, New York, University of Toledo, Ohio, Michigan State University, Oklahoma State University, University of Memphis, Tennessee, University of Denver, University of Delaware (USA); University of Bangor, University of Essex, University of Salford, and University of Bedfordshire (UK); Flinders University, Adelaide, Macquarie University, Sydney and University of South Australia, Adelaide and University of Newcastle (Australia); Hong Kong Polytechnic University; University of Utara, Malaysia.

Moreover, ICFAI’s partnerships with Microsoft – IT Academy, IBM – Rational Software, SAP – UCC, SAS, SPSS, Genpact, HDFC, ICICI, AIMA, CII and TiE, among others, provides the learners excellent industry exposure.

ICFAI Milestones

  • ICFAI was awarded at the Top Education Brands awards 2023, as ‘Outstanding Institute for Innovative Academic Delivery’, by BW Business World
  • The ICFAI Group was nominated among “The Economic Times – Best Education Brands 2022”.
  • ICFAI was felicitated with India’s Iconic Brand 2021 Award by The Brand Story.
  • ICFAI Business School is among the handful of institutions countrywide that has made case-based learning a critical component of pedagogy.
  • The ICFAI Foundation for Higher Education has launched a Center for Women Development that aims to play a proactive role in empowering women both at home and at the workplace.
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