Post Graduate Diploma in Management  / PGDM is widely considered as an equivalent to the MBA degree albeit, in a relatively shorter duration and at relatively pocket friendly expenses.  The chief difference between the two being – MBAs are offered by universities while the same cannot be offered by autonomous institutions, the course and the learning experience being deemed to be more or less the same.
Since PGDMSs are offered by autonomous bodies that do not follow the generalised syllabus from University, they are bound to have a more dynamic and practical learning experience. Also, one can choose two specialisations with the PGDM while there is no such additional luxury with the MBA.