Faculty of Management Studies – University of Delhi is a business school located in New Delhi, India. It was established in 1954 under the umbrella of the University of Delhi and is often cited as one of the best business schools in India. In 2025, FMS was ranked 2nd best MBA program in the country by the Indian Institutional Ranking Framework. The institute was started at the Delhi School of Economics premises under Dean A. Dasgupta of the Delhi College of Engineering (DCE).