The Government of India has allowed the IIMs to open their branches abroad. This is a welcome development.
The IIMs have acquired immesurable amount of esteem within India. It is another issue how much Brand Equity they may have abroad.
Quanity does not always translate to quality - the fact that IIMs get 100 times as many applicants as the seats they have on offer is a fact but that is merely to do with the rather large population of the country itself.
I think it's also important to maintain a sense of exclusivity. The top B-schools of the world haven't necessarily spread their wings throughout the world.
INSEAD is the only top B-school which has campuses in two places: Paris and Singapore.
Be that as it may, one can only wish God Speed!!! to the IIMs in their new adventures