EQUIS, an institutional accrediting scheme for business schools administered by the European Foundation for Management Development is considered one of the most demanding in the world. It goes beyond academic excellence and evaluates institutions based on a variety of criteria, including internationalisation and global engagement, corporate and industry links, research quality and impact, ethics, responsibility, sustainability orientation and continuous improvement and innovation in management education.

IIM-L director Prof MP Gupta said, With current AMBA and AACSB accreditations and now EQUIS they feel delighted to be part of the illustrious league of Triple Crown-accredited universities. It is attributed to our academics, students, officers, staff, alumni and partners who worked relentlessly in pursuit of our vision. Their joint effort continues to propel our institution to new heights.

As of 2025 there are 231 business schools in 46 countries that have been granted EQUIS certification; this testifies to the global spread and at the same time, the exclusivity accompanying the meeting of this standard. With this achievement, IIM-L joins the rare group of triple-accredited business schools, a distinction held by fewer than 1% of Indian B-schools, according to the institute's news release.

The EQUIS accreditation procedure usually takes 12 to 24 months. The process begins with the submission of a detailed Institutional Data Sheet that details the institute's programs, governance, research and foreign and corporate engagements. After recognition by the EFMD, an institute selects one academic program for focused review and submits a self-assessment report.

Next comes a peer-review tour in which an international panel analyzes the institute by meeting with key stakeholders and conducting an in-depth examination of the chosen program. The whole procedure ends in a decision of the Accreditation Board concerning the accreditation.