Management Development Institute, Gurgaon, was founded in 1973 in collaboration with several global institutions like UNDP, UNIDO, World Bank and ILO, with an initial grant received from KFW, West Germany, and with the active support of Industrial Finance Corporation of India (IFCI). MDI is also a deemed university and can award doctorates. MDI is also accredited by the Association of MBAs, the highest standard of achievement in postgraduate business education and has been ranked amongst the top 10 B-schools in the country by leading education surveys.