PGP (Post Graduate Programme in Management) from AICTE-approved institutes with AIU equivalence certification is formally recognised as MBA-equivalent. Employers, higher education institutions, and PSU/government bodies treat PGP identically to MBA. The IIMs historically awarded PGP (diploma) rather than MBA (degree) because they were autonomous institutions not part of any Indian university. Since the IIM Act 2017, IIMs can award MBA degrees directly, though many continue to offer both PGP and MBA credentials depending on the program. ISB’s PGP is not AICTE-regulated (ISB is outside the university system) but is globally accredited (AMBA, EQUIS, AACSB) and ranked #27 in FT Global MBA 2025, MBA-equivalent for all practical and most formal purposes. XLRI’s PGP, MDI’s PGP, SPJIMR’s PGP, and PGPs from other top B-schools all carry AIU equivalence. The only contexts where PGP versus MBA distinction matters are narrow international credential evaluations and specific government hiring requirements. For 99% of career paths, PGP equals MBA. More at https://www.goalisb.com/post/isb-pgp.