Is there a considerable amount of difference between a baby IIM and a top one, IIM Nagpur vs IIM Ahmedabad for instance? What would the differences be?

Every educational institute takes a good time to make its mark in the industry. No B School has been flourishing since day one. The old IIMs that are considered the topmost B Schools also have their own journey of growth and becoming what they are today. It is only through baby steps that they have improvised in various aspects like faculties

• placement
• alumni network
• curriculum 
• online courses
• certification program
• premium batch 

The older IIMs have evolved in these aspects gradually over the years and not right off the bat. The same is expected from the new IIMs. They are slowly making their mark and climbing the ladder but they have a long way to go. It might take them years to give an edge to any of the older IIMs. So I don’t think it’s justifiable to compare them to old IIMs.