Yes and No. Yes, if an institute is badly requiring to start a new program or increase intake or in case, an accreditation is a “must do” regulatory requirement. On the other hand, a top grade can place institute in an exclusive league of institutes, even make it an ‘institute of eminence’ thereby opening wide doors for autonomy, launch online and distance courses, establish off campuses in India and abroad, establish foreign collaborations and get research funded, and so on.
Well, if an institute is a government-run or funded, an absence of accreditation doesn’t impact it so negatively. Such institutes have low admission fee, good scholarships for students which make these institutes, an attractive destination. A few of these have attained academic eminence, like institutes of national importance and eminence. In nutshell, accreditation impacts private institutes, the most.
Irrespective of any type of institute, the process of accreditation can easily be a neck-breaker. It needs extensive preparations. In current times, any institute can ill afford to score a low grade and seethe in mediocrity for 5 long years in case of NAAC and 3 years for NBA. Preparations for the accreditation must therefore begin at least 3 years and more in advance if the objective is to score a top grade. Does it sound too much? Yes, it does.