According to the rankings, India's representation has also declined, from 31 institutions to 30, while eight of its universities have slipped to a lower band. "The country's flagship university, the Indian Institute of Science, has been demoted from the 201-250 cohort to the 251-300 band as its research income and citation impact have declined", said the Times Higher Education Rankings.
IIT Delhi slipped to 501-600 band from its previous year band of 351-400 while IIT Kanpur also fall from 401-500 to 501-600. Among the IITs, IIT Bombay's ranking of 351-400 band remained unchanged.
Apart from IITs, Aligarh Muslim University, Banaras Hindu University, University of Delhi, Indian School of Mines, Jadavpur University, National Institute of Technology Rourkela, Panjab University, Savitribai Phule Pune University, Tezpur University, Amrita University, Andhra University, Annamalai University, Birla Institute of Technology and Science Pilani, University of Calcutta, Cochin University of Science and Technology, Jamia Millia Islamia, University of Kerala, Osmania University, Pondicherry University, Sri Venkateswara University, Thapar University and VIT University found their place in THE World University Rankings 2018.
While, China is the only BRICS nation that has advanced dramatically; it is now the fourth most-represented nation in the table, with 60 universities, including seven in the top 200, up from four last year.
Indeed, the Times rankings said that, the continuing rise of Asia is one of the main themes of this year's ranking. The continent's leading institution, the National University of Singapore, claims its highest position ever, joint 22nd place (up from 24th).
The University of Oxford has held on to the number one spot for the second year in a row, while the University of Cambridge has jumped from fourth to second place.
Cambridge's rise comes at the expense of the California Institute of Technology, which was number one between 2012 and 2016, number two last year, and now shares third position with Stanford.
Louise Richardson, Oxford's vice-chancellor, said that she was "delighted that Oxford has held its position at the top of these global rankings".
"To be judged the best university in the world for the second successive year, against a backdrop in which Britain's role in the world is uncertain and the place of universities in society open to question, will be a great source of pride for everyone at Oxford, and, I hope, for the whole country," said Professor Richardson.
"Success in our field is never an accident," she added, stating that it is "achieved by a relentless pursuit of excellence, creative brilliance and a deep commitment to our enduring values".
Sir Leszek Borysiewicz, Cambridge's vice-chancellor, said that the result confirms that the university "is among a small group of the most respected higher education institutions globally".
The ranking also found that universities in India, Russia, Algeria and Nigeria are among the institutions with the weakest citations scores in the table.
"Despite its position as one of the leading developing countries in the World University Rankings, India is one of the worst performers when it comes to internationalization," said the ranking.
Matthew Hartley, professor of education at the University of Pennsylvania's Graduate School of Education, says that government policy strictly limits the number of students from abroad who may study in India and prevents international scholars from being hired into long-term faculty positions.
The BRICS nations (Brazil, Russia, India, China and South Africa) have suffered in the overall standings of the World University Rankings, in part because of an increased number of participants.
Although China remains the leading and fastest-rising developing country in the rankings, Hartley believes that India has "great potential to be a key global player in higher education in the coming years", despite its lag in internationalisation.
California Institute of Technology (United States), Stanford University (United States), Massachusetts Institute of Technology (United States), Harvard University (United States), Princeton University (United States), Imperial College London (United Kingdom), University of Chicago (United States), ETH Zurich - Swiss Federal Institute of Technology Zurich (Switzerland) and University of Pennsylvania (United States) found their place in top ten respectively while tenth position has two claimants.
Times Asia University Ranking 2017: IISc Bangalore, IIT Bombay In Top 50
QS World University Rankings 2017: IISc Bangalore, IIT Delhi In Top 200
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