Management education in India is at crabby path today. After the deregulation of the education sector in 1991, there has been an extraordinary growth in the establishment of management educational institutions in India. Though, there is a large number of management institutions in the country, a few have been accredited with the international accredited bodies and maintain international standards. This paper is an attempt to provide conceptual framework presents the impact of globalization on accreditation and business school standards along with stakeholders