I always hear people saying, IIT and IIM are only ranked highly in INDIA. But still students get high paying foreign placements. I used to wonder whether they are officially ranked globally. I could never find it. But today just an article i caught a glimpse helped me finally..:)
IIT is ranked third amongst its peers, the 1st,2nd & 3rd being obvious positions to MIT, California Univ and Berkeley.. And then follows IITs. IIMs were 68..Check this article at ET to read the whole thing.. 
There might be many more official rankings you might have come across. If you have please leave links on the comments page. It might help someone someway! And its interesting to see Indian Universitites reaching those heights too!
i think IIMS rank 68………….not 38
plz check
By: akansha on October 14, 2006
at 1:48 pm
thnks akansha! I hv changed it!
By: Ankit on October 14, 2006
at 1:55 pm
The world is looking at us, “With Arms Wide Open”
By: devesh21 on October 14, 2006
at 5:11 pm
You are right my friend! Theres a lot more than people still know!
By: Ankit on October 15, 2006
at 2:49 am
iim’s fuckall b-school…
yet it stands 1st in world’s most sucking school..
so just enjoy sucking n licking in dis school…
mera bharat mahan… ; )
By: ranjitbhai on November 27, 2006
at 1:19 pm
hi this is mayank.i think IIM’s are the best to be dealed with if you like to pursue your career in economical sections whereas IIT’s are best too . The only difference that occur is there in our likings .
By: mayank verma on May 12, 2007
at 3:38 pm