Meet The Indian Institute Of Management Calcutta MBAEx Class Of 2026

Kolkata is a city of contrasts. The architecture is a mix of Neoclassic columns and Bengali curves – historic palaces that overshadow makeshift shanties. To Westerners, Kolkata conjures images of old and new, rickshaws and trams, crowded streets and wetland parks – gritty yet colorful.

That contrast can also be found between Kolkata and Joka. Home to Indian Institute of Management Calcutta – the nation’s first IIM – Joka resembles an American suburb in some ways: a family-friendly business hub with wide streets and warm lights…not to mention fast food joints like Subway and Domino’s. For IIM Calcutta’s MBAEx Class of 2026, Kolkata and Joka offer distinct experiences – “in the best way possible,” says Ketan Malhotra, a craft brewer before business school.

“Inside IIM Calcutta, the pace is relentless, filled with cases, deadlines, and constant intellectual stretch,” Malhotra continues. “But step outside, and the city slows you down. Its old-world charm, cultural depth, and reflective rhythm offer a quiet counterbalance to campus life. That blend of academic rigor and Kolkata’s thoughtful stillness taught me not just how to think fast, but how to think deeply—and reminded me that great leadership is as much about awareness and empathy as it is about analysis and action.”

TWO WORLDS…AND TWO DISTINCT EXPERIENCES

Malhotra’s classmate, Yasha Hemant Khuthia, echoes his sentiments, describing the Kolkata-Joka mix as “getting the best of both worlds.”

“While the IIM Calcutta campus offers peace, focus, and a close-knit community,” she adds, “the city is close enough to enjoy its culture, energy, and warmth. Unlike fast-paced metros, Kolkata invites you to slow down, observe, and engage more thoughtfully with people, ideas, and the world around you. It’s a setting that makes learning feel expansive.”

Take Kolkata, known as the “City of Joy” with a rich heritage rooted in the arts and letters. In the fall, IIM Calcutta students can participate in the massive Durga Puja festival, replate with pandal displays and dhak drumming. There is Park Street – “The street that never sleeps” – with its fine dining, designer shopping, and frisky club scene. Of course, Kolkata is a foodie’s paradise, home to zesty Kathi Rolls, savory Biryani platters, and sweet Rasgulla balls. While Kolkata may be India’s cultural capital – associated with the likes of Rabindranath Tagore and Swami Vivekananda – it is also commercial hub that boasts large operations for companies like IBM, Microsoft, Wipro, and ITC.

“The location enhances my cultural competence immensely,” explains Ramesh Prasad, a Colonel in the Indian Army. “I view that a cultural understanding of the stakeholders is a deep ‘enabler’ for effective collaboration amongst diverse teams as existing in the present-day global markets. Simultaneously, the easy accessibility of IIM Calcutta’s campus to the metropolitan city provides the Institute an integral connection to Industry as well as several prominent business leaders, who are frequently invited as guest speakers, thus providing us the desired industry outlook.”

A JOURNEY BIGGER THAN ACADEMICS

For the MBAEx Class of 2026, the IIM Calcutta campus itself provides a sense of comfort. Amravi Shah, a data scientist, describes Kolkata as a “place with a soul” where “the past and future coexist.” In contrast, he finds the campus to be a place to relax and reflect – and savor the MBA experience as a whole.

“Waking up to the serene view of a lake from my room is something I really look forward to every morning,” she writes. “The few minutes of peace I get from watching the birds fly and ducks swim in the lake really sets the tone for the day. Between classes and amidst the constant hustle and bustle, walking by the lakes is like taking a mini pause. There’s a strange calm that keeps you grounded.”

Seven campus lakes to be exact, with the serenity interrupted by the chirping of exotic birds or visits from Monty the monitor lizard. Among the class’s favorite campus haunts is the Management Development Centre Lounge, says Paaras Bansal, where classmates celebrate birthdays or play spirited games of foosball, table tennis, or pool. For Ketan Malhotra, the best campus spot is next to the lake by the Joka Metro.

“After long hours of cases, quizzes, and deadlines, it’s the perfect place to just breathe,” Malhotra explains. “Some of us grab chai, others debate life or careers, but mostly—we go to slow down, laugh a little, and remind ourselves there’s more to this MBA journey than just academics.”

STARTING BUSINESS SCHOOL WITH A STARTUP COMPETITION

…though academics is a big part. In a program known for academic rigor and teaching excellence, the Class of 2026 points to coursework as one of the MBAEx’s key differentiators. In particular, Dipan Talukdar cites Macroeconomics as the best course that he has taken so far.

“[It has] helped me understand how the world works—from inflation to interest rates to government budgets – linking policy decisions to real-world impact and giving me a bird’s eye view. It is like solving a puzzle: lots of moving parts, but one coherent system.”

Another favorite is the Startup Garage, an accelerated pitch competition held during the first week of classes. Chirag Choudhry, a Kolkata native and financial analyst, believes the event exposed his class to the true “spirit of innovation and entrepreneurship.”

“Over an intense 36-hour period, I journeyed through every stage of building a startup: from brainstorming fresh ideas, to forming a strong team, to crafting a compelling business model, and finally pitching to a panel of seasoned investors,” Choudhry reminisces. “The most important lesson I took away from Startup Garage was the power of collaboration and resilience. Working under pressure with a diverse team taught me how to leverage each member’s strengths and adapt quickly to changing circumstances. The experience left me with a newfound confidence in my ability to lead, innovate, and turn ideas into action.”

LEARNING TO LEAD

Lattice is another IIM Calcutta staple that made an impression on the Class of 2026. Branded as the school’s annual business conclave, Dipan Talukdar frames it as a platform that “connects industry experts, academic leaders, and students to explore key trends, challenges, and innovations.” This year’s event featured luminaries such as Chinmaya D. Gavankar, a partner and principal at Ernst & Young, along with senior executives from the Boston Consulting Group, Hyzero, and Mynd Integrated Solutions. For Ketan Malhotra, the biggest takeaways didn’t come from the addresses and panels, but the lessons learned from helping to plan the event.

“From working with industry leaders and faculty to aligning teams and managing timelines, every step demanded adaptability and ownership. Balancing it all with academics wasn’t easy—but that’s where the learning was. It taught me how to lead without a title, think on my feet, and push through ambiguity. More than anything, it reminded me that real growth lies just beyond comfort.”

Yasha Hemant Khuthia joined the Class of 2026 after spending nearly five years in instructional design and consulting. For her, the MBAEx program was a chance to break bad habits and relearn concepts after gaining professional experience. At the same time, Amravi Shah has gained a greater appreciation for the bigger picture through the IIIM Calcutta curriculum.

“I used to approach tasks as standalone objectives—completing them well, but often without seeing the broader picture. Now, it’s not just about doing the work; it’s understanding the why behind it along with considering all the factors that play a role in the bigger vision. Whether it’s a marketing strategy, an operations model, or a financial decision, I’ve learned to see how each piece fits into a larger vision.”

Kashish Krishan Sharma understood his role – and the bigger picture – when he served as a Chevron engineer for 14 years. His role: managing cargo operations, which included a nine-month stint at sea to ensure an oil supply. Most recently, Ketan Malhotra worked for Anheuser Busch InBev as a brewer. Before that, he turned a brewpub into a leading craft beer.

“As head brewer [at Seven Rivers Brewing Co.], I not only scaled operations by 40%, but also delivered tangible product impact and launched over 10 craft beer styles grounded in customer feedback and market trends. One such product—Munich Helles—was picked up for consideration at a commercial scale.”

By the same token, Dipan Talukdar was part of a team that holds a Guinness World record for operating the largest case benefit program by number of households. And Rahul Jayamurugan, a sustainability consultant, once partnered with Qatar’s Ministry of Environment and Climate Change to help the world’s largest exporter of urea receive a clearance for the compound.

“I contributed to Environmental Impact Assessment studies that supported regulatory approvals under tight timelines and high scrutiny,” Jayamurugan explains. “The experience exposed me to international compliance frameworks, sharpened my stakeholder management skills, and deepened my ability to address ESG challenges in complex industrial settings.”

LOOKING AHEAD TO GRADUATION

With graduation approaching in the coming months, what does the Class of 2026 hope to accomplish next? Amravi Shah doesn’t offer specifics, but sketches a vision similar to Steve Jobs upon her return to the field of data science.

“This time, the difference will be in the depth of understanding I’ve gained about how people connect with products, what truly motivates human decision-making and how they connect with products and experiences. I now aim to merge this human insight with my technical expertise to create not just intelligent systems, but intuitive ones—technology that listens, adapts, and fits seamlessly into people’s lives.”

While Chirag Choudhry plans to follow a traditional consulting path, he’ll also be involved in a side project close to home…literally.

“I plan to contribute to the growth of my family business, Ringtong Tea Company, which is engaged in the manufacture and sale of Darjeeling Tea. My goal is to blend our traditional expertise with modern business practices to drive strategic expansion and long-term, sustainable growth.”

A CLASS PROFILE

As a whole, the Class of 2026 features 90 MBAEx students. Women account for 12% of the class, with the average age of class members being 30 years. On average, the class brings a 696 GMAT to Joka.

Academically, 82% of the class majored in Engineering-related fields as undergraduates. Another 9% of class members studied Commerce, followed by Science (7%) and Arts and Fashion (2%). Professionally, the largest class segment last worked in Information Technology (17%). Oil and Gas professionals constitute 14% of the class, followed by Banking, Financial Services, and Insurance (12%), Automobile (7%), Consulting (7%), and Power and Energy (7%).

This year’s headline? In the September MBA ranking from LinkedIn, IIM Calcutta ranked as the top business school in India. In the same ranking, the school also finished 16th globally, higher than top programs like HEC Paris and the University of Virginia’s Darden School. In the Indian Government’s NIRF ranking, IIM Calcutta also produced one of the highest scores for graduation outcomes. In fact, The Financial Times reported that IIM Calcutta MBA grads earn $166,309 in US dollars within three years of graduation, higher than IIM Kozhikode, IIM Indore, and IIM Lucknow. In an FT survey, IIM Calcutta notched a Top 20 score from students and alumni for the quality of its career services, while finishing 6th in Career Progress – a measure focused on how graduates improved their seniority compared to their pre-MBA levels.

THE INTERNATIONAL IMMERSION AND LIVE PROJECT MODULE

In addition, The Financial Times ranked IIM Calcutta at 8th for its International Course Experience. This is a testament to its International Immersion. Run in March, the immersion has taken students to business schools in countries like Germany, Italy, Spain, and France for coursework, site visits, and (of course) site-seeing. Along with the immersion, IIM Calcutta is also renowned for its experiential learning programming, particularly its Live Project module. Guided by faculty, MBAEx teams gain real-world experience on projects sourced by area companies like Accenture. Not only do students get to put the curriculum into practice, but they also build their networks while honing their interpersonal communication and problem-solving skills.

Still, the Class of 2026 returns to a marquee feature of the MBAEx program: IIM Calcutta remains a member of the “Holy Trinity of IIMs” in the words of Paaras Bansal, an income tax inspector. That comes with the respect and goodwill of employers, who are fully aware of alumni track records and faculty thought leadership that comes with nearly 65 years of success. And the scale of the program helps too, says Yasha Hemant Khuthia.

“What truly drew me to IIM Calcutta was the depth and diversity of electives, especially in areas like policy, strategy, and leadership. Coming from the education management space, I was looking for a curriculum that didn’t just sharpen technical skills but also encouraged systems thinking and interdisciplinary application. IIM Calcutta’s faculty—many of whom are thought leaders in their domains—offered the academic rigour I was seeking to reframe my experience and explore new avenues like policy, consulting, or innovation-led development. It felt like the right ecosystem to stretch and reimagine my career.”

For Kashish Krishan Sharma, that avenue is the school’s increasing prominence in ESG.

“IIM Calcutta is one of the few business schools in the country to have integrated aspects of climate change and sustainable development, with the core tenets of business including financing, investment, and operations within its MBA program,” he writes. “Professionally, the need to decarbonize logistics and supply chains, making them more sustainable, has been a pivot in my own career. To this end, I was looking for a management program which could provide me the knowledge and framework for sustainable business and management practices.”

AN INTERVIEW WITH PRAGYAN RATH

What are some of the latest developments in the MBAEx program? How does IIM Calcutta’s career services center enhances students’ job prospects? How does the school’s programming enhance their students’ soft skills and deliver a wider and deeper global outlook? Earlier this year, Poets&Quants reached out to Dr. Pragyan Rath, the MBAEx Chairperson at IIM Calcutta. Here are her thoughts on these questions…and others.

P&Q: What have been the two most important developments in your MBA program over the past year? What type of impact will they have on current and future MBAs?

Rath: “The past year witnessed two special endeavors in our one-year MBA program here at the Indian Institute of Management Calcutta (IIMC), both highlighting a collaborative ecosystem management scenario. The first event aimed at fostering a pre-MBA experience for the in-coming batch, while the second event valorized through panel discussions, niche industry collaborations to highlight industry sub-cultures.

On February 22, 2025, the 18th MBAEx batch of Student Admissions Team hosted an event designed to onboard the incoming MBAEx Batch 19. The event christened ‘Confluence’ was an initiative aimed to smoothly integrate the new students into the program and build strong connections between the two successive cohorts. ‘Confluence’ featured a structured knowledge transfer session by including the in-coming students in a ‘one-day sit-through class’ scenario, along with interactive networking opportunities, effectively building a bridge between the outgoing and incoming batches. This initiative underscores MBAEx’s commitment to peer-driven learning and strong professional networking. It ensures that every new MBAEx batch enters the programme with comprehensive guidance, confidence and robust community support.

To further bolster industry connections, we inaugurated the Industry Insight Series, a new feature on industry collaboration that offers in-depth panel discussion with very niche industry domains, like Insurtech, EnergyTech, and SpaceTech – hosted for the first time by any Indian B-School as such.

The series began on September 15, 2024, with a focus on InsurTech, a sub-culture of the larger insurance industry, which is also one of the fastest growing industries in India. A distinguished panel of industry leaders – Rahul Sudame (Associate Vice President, Persistent Systems), C. P. Ojha (CTO Insurance Vertical and Associate VP, LTI Mindtree), Pramit Pal (Associate Director and Head – Insurance, Strategy and Innovation, Capgemini Invent India), Pradipta Sarkar (Senior Vice President, Aon), Jatin Madhra (Investors Tea, Blume Ventures), and Sweetie Shetty (Regional Director, SBI Life Insurance) – shared their expertise on future trends, innovations and technology’s transformative impact on the insurance landscape, opening avenues for students from insurance backgrounds both at pre-MBA and post-MBA levels.

On October 19, 2024, the Industry Insight Series featured its second session, this time centered on EnergyTech, a sub-set of the larger renewable energy sector. This session brought together a distinguished group of industry leaders who offered profound insights within the energy sector. The esteemed keynote speakers were Arnab Sarkar (General Manager & Global Practice Head, Oil & Gas manufacturing, Wipro Technologies U.K.), Sidharth Mishra (Vice President & Global Consulting Lead, Energy & Decarbonisation U.K.), Abhishek Kar (Strategy & Sustainability, Siemens – Middle East), Madhusudan Mundhra (Finance Manager, Office of Director – Business Development, Coal India Limited), and Tushita Suri (Chief of Staff to EVP & Executive Committee Member, Schneider Electric). The session also opened doors for inclusion of more energy-based applications to an MBA program.

The Industry Insight Series culminated on November 24, 2024, with a session dedicated to SpaceTech, perhaps our most ambitious and novel attempt, with our very own alumnus having recently inaugurated the first IIM Calcutta SpaceTech startup – BioSky. This concluding event comprehensively addressed the evolving space ecosystem in India, with particular emphasis on the critical intersection of markets, governance, and technological advancements. The esteemed line-up of speakers included Dr. Vinod Kumar (Director, Promotion Directorate, IN-Space), Anurag Garg (Director – Strategy and Marketing, Thales India), Divya Sharma (Vice President, SatSure), Saurabh Kapil (Co-Founder, BioSky) and Manan Anand (Investment Associate, GrowX Ventures). Needless to say, the attempt was to attract more SpaceTech live projects and industry collaborations with MBA students.”

Page 2: Interview with Pragyan Rath (Continued)

Page 3: In-depth Profiles of 10 Members of the Class of 2026

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