University rankings are used to measure and compare institutional quality based on a range of indicators related to research, reputation and teaching. Indian government's National Institutional Ranking Framework, or NIRF is the mechanism for measuring quality and also intended to determine funding and world-class university endeavors. The "Institutions of Eminence (IoE)" initiative by the Government of India aims to build top-ranked Indian universities by providing autonomy and funding (only for public universities) and identified six institutions.
The University of Mumbai was ranked 41 among the Top 50 Engineering Schools of the world by America's news broadcasting firm Business Insider in 2012 and was the only university in the list from the five emerging BRICS nations viz Brazil, Russia, India, China and South Africa. It was ranked at 62 in the QS BRICS University rankings for 2013 and was India's 3rd best Multi Disciplinary University in the QS University ranking of Indian Universities after University of Calcutta and Delhi University. Three Indian universities were listed in the Times Higher Education list of the world's top 200 universities -- Indian Institutes of Technology, Indian Institutes of Management, and Jawaharlal Nehru University in 2005 and 2006. Six Indian Institutes of Technology and the Birla Institute of Technology and Science - Pilani were listed among the top 20 science and technology schools in Asia by Asiaweek. The Indian School of Business situated in Hyderabad was ranked number 12 in global MBA rankings by the Financial Times of London in 2010 while the All India Institute of Medical Sciences has been recognised as a global leader in medical research and treatment. The Quacquarelli Symonds (QS) World University Rankings published in 2013 ranked IIT Delhi at number 222 with a 49.4% score, IIT Bombay at 233, and IIT Kanpur at 295. No Indian universities appear in the top 200 worldwide except IISC Bangalore which is ranked at 147.