India's rise is partly due to an expansion of the table to include over 350 universities this year, up from around 300 last year.
National University of Singapore retained its top spot on 'Times Higher Education' ranking for Asia.
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Its only area of decline was teaching reputation, the rankings analysis found.
"The South Asian region has increased its representation in the 2018 'THE' Asia University Rankings, but is struggling to maintain its standing in the face of competition from east and south-east Asia," Baty said.