There is no difference between the MBA program and PGPM program except in terms of certification.
On completion of MBA program you will be awarded an MBA degree from a UGC recognized University.
PGPM is a career oriented program which prepares the students and equips them for careers in corporate. On completion of PGPM program you will be awarded a PGPM completion certificate from IBS. However these students can enroll for MBA as private candidates in flexi/ distance learning mode from any University and obtain MBA degree in addition to the PGPM Program.