There will be no such any defined criteria. It depends on your university guidelines and specially your guide.
160 pages is okay. The only thing important is how you have cover your topic with justification.
In Management specially Introduction, review of literature, Methodology, Analysis, Discussion & Findings followed by Conclusion and references and bibliography.
The number of pages in a thesis also depends on the topic. Thesis on floristic accounts might have more than 1000 pages and they are submitted in two volumes!
Your thesis should extend the frontier of knowledge known so far, number of pages is not at all important.
Number of pages is not that much connected with quality.
Quality is what your thesis should have. You should cover the topic extensively witha good literary background and justification of your approach. That's basically it.
This is just like quality matters not quantity.Focus on the quality of work you have done rather than focusing on how many pages it could be.But thesis should not be looks like a research paper (page wise).After taking care of all aspects of a thesis if it comes to 160 odd pages then not bad.Be happy and go ahead.
Thesis and dissertations length should be determined by the type of study, discipline, design, variables, analyses, and available literature. Thus, it is unwise to limit thesis and dissertations with number of pages
Is there any defined standards for number pages of thesis in India?
Think there is no such fixed / defined standards in which the quality & completeness of the contents are more important in the eyes of the examiners. Typically i'd observed quantitative research theses range from 100+ to 300+ pages whereas qualitative research theses range from 300+ to 500+ pages.
Assume that you are writing a text book explaining your work for the post graduate students of your discipline. This will automatically determine the length of the thesis.