Mumbai, Feb. 27 -- Top private colleges and universities are snapping up seasoned executives and professors with global pedigrees in a race to ascend rankings and attract funding, heralding a new era of competitive internationalization.

Universities are tapping search firms to recruit c-suite level executives and expat academics for the roles of dean, vice-chancellor, business administration head and provost, multiple industry officials said, with the hiring spree already yielding key appointments.

"Colleges are recruiting expensive and top talent for these posts so that they are able to increase their funding, get quality research papers done, improve their rankings and up their collaboration with international academic partners and in...