When we talk about an MBA degree here in India, the first thought that crosses the mind is IIM, so much so that an MBA in India has become synonymous to IIM and for all the right reasons. IIMs offer world class education and almost all of them are the top ranking B-Schools of India. However, this educational excellence is obtained at a very high cost. The fees for an MBA degree at IIMs range from INR 15-25 lakhs.