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Indian Institute of Foreign Trade

Coordinates: 28°53′42″N 77°18′31″E / 28.89500°N 77.30861°E / 28.89500; 77.30861
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Indian Institute of Foreign Trade
भारतीय विदेश व्यापार संस्थान
File:Indian Institute of Foreign Trade logo.jpg
IIFT Logo
TypePublic business school
Established1963
EndowmentINR 19.50 million
BudgetINR 32.73 million
DirectorDr. Surajit Mitra
Academic staff
49
Administrative staff
31
Location
New Delhi and Kolkata
,
India

28°53′42″N 77°18′31″E / 28.89500°N 77.30861°E / 28.89500; 77.30861
CampusUrban, 6 acres (24,000 m2)
Satellite campusDar es Salaam, Tanzania
NicknameIIFT
AffiliationsUGC
Websitehttp://www.iift.edu

The Indian Institute of Foreign Trade (IIFT) is an autonomous public business school established in 1963 by the Government of India (Ministry of Commerce and Industry) to help professionalize the country's foreign trade management and increase exports. Its flagship program is the Master of Business Administration in International Business (MBA-IB). It is the only institute among the top-10 business schools of India that offers this program.

IIFT is a deemed university and it conducts an autonomous entrance examination across various centres in India. In 2013, an estimated 60000 candidates took the entrance exam for Full-Time MBA (IB) course with 270 seats, making it one of the toughest B-schools to get into in India.[1] IIFT 2014-15 was held on November 23, 2014.[2]

Courses

IIFT's portfolio of long-term programmes is as follows:

  • Ph.D. Course (full-time and part-time)- at Delhi and Kolkata Campus.
  • Two-Year Residential MBA (International Business) - New Delhi, Kolkata, and Dar-es-Salaam (Tanzania). This is the flagship course, offering specialisation in Marketing, Finance, Operations and Trade.
  • Three-Year Part Time MBA (International Business), New Delhi & Kolkata
  • Executive Master's in International Business, New Delhi, Dubai and Dar-es-Salaam
  • Certificate Course in Export Management, New Delhi, Kolkata, Guwahati (Assam)
  • Post Graduate Diploma in International Business Strategy through NIIT Imperia

IIFT has, over the years, undertaken research studies with organisations like World Trade Organisation, World Bank, the United Nations Conference on Trade and Development (UNCTAD) and the Ministry of Commerce & Industry. IIFT has also trained more than 40,000 business professionals across 30 countries via its management development programmes.[3]

Rankings

Institute rankings

As of 2014, IIFT was ranked #6 in India by the Wall Street Journal.[4] It was ranked #21 by the QS Global 200 Business Schools Report in the Asia-Pacific region for 2012.[5] and was ranked #7 by the Business Today 50 best business schools of 2011,# 9 by PaGaLGuY[6] and #12 by the 2012 edition of CNBC-TV18's Top B-Schools in India.[7]

Selection Process

IIFT has one of the toughest selection processes in the country for its flagship MBA course and has maintained its legacy as a premier top 10 business school in India. Around 50,000 students apply for the IIFT exam every year and only the cream (top 250 – 300 students) make it. Selection in IIFT is a four-pronged process. 1. The entrance test is a paper-based test. To keep up with national standards, the pattern of the test is updated every year. However, the test is believed to be challenging in terms of time management as well as the quality of questions asked. 2. A short-list based on the test scores is used to invite students for the Group Discussion round. Topics of national and international importance across social, political, economic and corporate domains are common as individuals are tested on their group discussion skills. 3. A Writing Ability Test is conducted to test the candidate’s writing skills, along with knowledge of the subject and structure of representation. 4. The Personal Interview is one with a humanistic touch with focus on goals, achievements, knowledge and awareness. A cumulative weighted score depending on the rules of that particular year of examination is taken to identify the final short-list of candidates for offer letters.

Centres at IIFT

Centre for International Trade in Technology

With the primary objective of actuality India’s potential in technology trade and addressing some of the institutional complexities, IIFT has set up the Centre for International Trade in Technology with financial and technical support from the Department of Scientific and Industrial Research, Government of India.

It is an institution in which roles of active players in international technology trade especially those of Ministry of Commerce & Industry and Ministry of Science and Technology are proposed to be synthesised.[8]

Centre for WTO Studies

The Centre for WTO Studies was established at IIFT in November 2002.

The major objective of the Centre has been to provide research and analytical support on a continuous basis to the Department of Commerce on identified issues pertaining to the World Trade Organisation. In addition, it is also tasked to carry out research activities, bring out Publications on WTO related subjects, carry out Outreach & Capacity Building programmes by organising seminars, workshops, subject specific meetings etc., and to be a repository of important WTO documents in its Trade Resource Centres[9]

Centre for SME Studies

The growing importance of Small and Medium Enterprises in the economy as a whole and External Trade in particular has prompted IIFT to establish a separate Centre for SME studies which can act as a catalyst to the internationalsiation of SME activities. The centre has become operational from May, 2005. The Centre for SME Studies at IIFT provides continuous support to the SME sector by carrying out activities which can be broadly classified into conducting Training Programmes, provision of Business Intelligence services through a Databank and acting as a catalyst for Interfacing with other concerned and associated institutions.[10]

Campus

IIFT Delhi Centre is located in the Qutab Institutional Area in close vicinity of Jawaharlal Nehru University and the Indian Institute of Technology in New Delhi, India and is spread over 6 acres (24,000 m2) of land.

The Kolkata Centre was set up in July 2006 when it was perceived that they needed a campus in a port city. The Union Commerce minister Kamal Nath inaugurated the campus in the presence of chief minister of West Bengal, Buddhadeb Bhattacharjee.[11] The campus is located in Sector V Salt Lake amidst the IT hub of Kolkata. The campus at Kolkata is an extension of the Delhi campus with rotating faculty and central placement at both the campuses.

The facilities available on campus include lecture halls with audio-visual aids, conference halls for round-table conferences, an auditorium of 500 seating capacity, MDP Centre, three Computer Centres, indoor games, and residential facilities for students.

Facilities

Library

The IIFT library has 84,000 volumes and subscriptions to 800 journals with online cataloguing.[citation needed] The library has a collection of publications of FAO, IMF, OECD, UNCTAD, UNCTC, World Bank, and other international agencies.

The students also have access to database such as the NIC, CMIE, India Trades, World Bank Indicators and other audio-visual aids on management. IIFT has set up the WTO Resource Centre in the Library to focus exclusively on WTO issues.

The library in Delhi as well in Kolkata campus have online resources. The Institute subscribes EBSCO, Proquest, JSTOR, Emerald, Blackwell Synergy databases which mainly cover journal articles. For statistical data there are World Trade On-line, IMF databases, IndiaStat, ISI Emerging Markets, Woline, WITS, CMIE databases, World Trade Atlas, OECD online and many more to list.

Computer facilities

Eleven servers (IBM, Compaq and HP), 300 Core 2 Duo/Pentium IV nodes with wired and wireless access to the network are available in the campus. The software applications include Solaris, Novell Netware, Windows 2000 Server, Windows XP, Lotus Domino, SPSS, Oracle, Developer 2000, and Java.

Other facilities include 24-hour Internet access, access to national and international databases, in-house publishing facilities, LCD / Plasma Screen Projection Systems, etc.

To ensure that the internet resources are used strictly for educational purpose, IIFT has installed an extremely powerful and modern internet monitoring and blocking infrastructure. Further to increase network as well as human productivity, a well defined time allowance is allocated for social networking and entertainment websites.

International Student Exchange Programmes

IIFT Exchange Programme is an outcome of the institute’s academic collaboration with some of the leading institutions across the world. Theses collaborations are mainly for student; faculty exchange programme, joint collaborations on research and various other capacity building exercises are also carried out. As outbound students, IIFT MBA-IB candidates learn about the host country, cultural aspects and adapting to different environments both in terms of the education system and corporate governance. Inbound students to IIFT are exposed to a multi-cultural and diversified environment on the IIFT campus along with access to the various in-house knowledge centers, co-curricular facilities and domain-specific expertise groups. IIFT has been successfully strengthening its relationship with international organizations by signing MoUs and participating in their activities or taking collaborative initiatives. The Institute is a member of the following International organizations:

  • Academy of International Business (AIB)
  • European Foundation For Management Development (EFMD), Brussels
  • International Association of Trade Training Organisations (IATTO), UK

The Institute has Academic collaboration with the following International Universities/Institutions:

  • Aberystwyth University, Aberystwyth, UK
  • Ajou University, Suwon, Korea
  • Allianza 4 Universidades, A4U, Spain
  • Ateneo Graduate School of Business, Philippines
  • Bangladesh Foreign Trade Institute, Dhaka, Bangladesh
  • Bradley University, Peoria, Illinois, USA
  • Brock University, St. Catharines, Ontario, Canada
  • SKEMA Business School, Antipolis, French Riviera Chamber of Commerce and Industry, Sophia Antipolis Cedex, France
  • ESC Rennes School of Business, France
  • Foreign Trade Training Centre (FTCC), Nasr City, Cairo, Egypt
  • Foreign Trade University Hanoi, Vietnam
  • German Development Institute (GDI), Tulpenfeld, Bonn, Germany
  • Grenoble School of Management, Grenoble Cedex, France
  • HANKEN-Swedish School of Economics and Business Administration, Hanken University, Helsinki, Finland
  • IECS- Strasbourg Graduate School Of Management, Université Robert Schuman, STRASBOURG CEDEX, France
  • IESEG – School of Management, Lille Catholic University , Lille, France
  • Institute of Financial Management (IFM), Dar-es-Salaam, Tanzania
  • International Institute for Trade and Development, Bangkok, Thailand
  • Nyenrode Business Universiteit
  • Pforzheim University, Pforzheim, Germany
  • Singapore Management University, Singapore
  • The International University in Geneva, Geneva, Switzerland
  • The University of Newcastle, Newcastle, NSW, Australia
  • University of Insubria
  • Universitá Commerciale L. Bocconi, Milano, Italy
  • Universität des Saarlandes, Germany
  • University of International Business and Economics, Bejing, China

Port Visit and Social Awareness Program

IIFT also offers its students the opportunity to visit various national and international ports.Students can choose their port of choice and are accompanied by faculty members during the visit. [12]

The institute also has a month long social awareness program, in which several NGOs are invited to the campus to pitch their projects to the students. The students are then allowed to choose any NGO of choice and have to work closely with the NGO for next one month. The SAP is a part of course curriculum and IIFT is one of the few institutions who have undertaken similar social programs.[13]


Campus Life

The institute has a student body called International Management Forum (IMF). IMF is the official representative student body at IIFT which acts as a coordinator for, and provides administrative support to, various student activities and events at IIFT besides taking policy decisions regarding student affairs in consultation with the Director/Chairperson/Programme Director. Among the key roles of IMF is co-ordination and supervision of the activities of various domain-specific clubs and cells. 6 clubs and 7 cells work to ensure collaborative and comprehensive learning round the year. The clubs impart domain and industry-specific knowledge via Knowledge Transfer Sessions throughout the year. Also the practical learning experience is enhanced through the regularly scheduled competitions-case studies, Group discussions, quizzes, etc. Live projects from various corporates in all domains are also brought by clubs, which ensures significant industry exposure. The activities of the clubs and cells are supervised by the General Secretary, a member of the IMF. The institute has the following clubs on campus:

Capital

Capital is the Finance and Investments Club at the Indian Institute of Foreign Trade (IIFT). The objectives of the club include providing a platform for all the Finance enthusiasts to be a part of the club initiatives and promoting finance as a career option in the student community. Apart from conducting various intra-college competitions in the field of investment banking and equity research, Capital also hosts The National Finance Summit under the aegis of Tradewinds annually. InFINeeti, the quarterly Finance Magazine of IIFT is circulated to the elite national schools of India & abroad and provides a platform to discuss and present opinion on the recent happenings in the field of finance

Brandwagon

Brandwagon is the marketing club at IIFT. It aims to impart holistic and field-based knowledge through the various activities that it conducts year round. These include the Annual National Marketing Summit, Headstart guest lecture series, live projects, workshops, intra and inter college competitions, a monthly marketing magazine ‘Markmantra’, and a dedicated Market Research Cell.

Socrates

Socrates, the consulting and strategy club of IIFT is a platform where students who are passionate about making a career in consulting come together and learn the different facets of the world of consulting. The club aims to complement classroom learning and present a wider view of the consulting domain to its members in order to broaden their horizons through the Headstart guest lecture series, various intra and inter-college competitions and ‘Strategos’, the magazine.

SCOPE

The Supply Chain, Operations and Energy (SCOPE) club at IIFT aims to highlight and focus on the ever-increasing scope and results of sustainability in today’s Supply Chain, Operations, Energy and related aspects in an organization. SCOPE organizes the National Operations Conclave which has had associations with CII, ASSOCHAM, NASSCOM, FICCI and other organizations of repute. It also organizes an inter-college competition annually and publishes ‘KaleidoSCOPE’, a magazine focused on the key developments, news and views on Operations and Energy.

Systemix

Systemix, the systems consulting club in IIFT, aims to provide a platform for young managers in the domain of IT to further their industry connect and gain exposure to the ever-growing field of data analytics and e-commerce. It is particularly involved in imparting the knowledge about gamut of the most sustainable technologies to come up in recent times in IT – SMAC (Social, Mobile, Analytics and Cloud). It conducts the National IT conclave, an annual event intended to provide an opportunity for B-school students to interact closely with industry leaders and deliberate on topics of relevance. Systemix also publishes Techtonix, the magazine on IT.

BLASH

An acronym for 'Buy Low And Sell High', the International Trade Club at IIFT is one of the oldest student driven clubs in the college. The club aims to bring together people who wish to make a career in Trade and provides a platform to them to interact and learn dimensions of international trade beyond the regular classroom learning, helping in broadening their horizons. BLASH is also the focal point of external engagement with organizations from the domains of Commodity Trading, International Logistics, Structured Trade Finance and related spheres. Apart from various workshops, competitions and live projects, BLASH organizes the International Trade Conclave, held in Singapore/Dubai to discuss global issues at a level where they impact the most. Trade Winds - the magazine on Trade and International Business is also published by BLASH.

Cells

Apart from clubs, 7 cells are also present to facilitate co-curricular and extra-curricular learning. Students having interests as diverse as stock trading, quizzing, social work, entrepreneurship, etc. get ample opportunities to harness and showcase their skills through these cells. These cells aim to complement the activities of the clubs in furthering domain and sector exposure, while maintaining a practical and humanistic touch to B-school learning. The cells present on campus are:

  • Pharma, Healthcare & Insurance (PHI)
  • Equity Research Cell (ERC)
  • Insights, the Marketing Research Cell (MRC)
  • Africa Business Cell (ABC)
  • Quintessential – the quizzing cell
  • E-Cell – the Entrepreneurship Cell
  • Koshish – the social awareness cell

Placements

The institute has a Placement Committee which is a fourteen-member body of elected representatives. It consists of eight people from the Delhi campus and six from the Kolkata campus. The purpose of Placement Committee is to ensure good final and summer placements for the students of the full-time MBA (IB) programme. To this end, it makes representations to Human Resource departments of various organisations, and arranges placement week / interviews and selection procedures for IIFT students. Some key highlights of the placement season of 2014-15 are:

  • Fastest attainment of 100% placements across all B-school campuses
  • Highest summer internship stipend across all B-schools
  • 13 international offers made on campus for final placements across domains

Events

Annual events catering to a holistic development of a B-school graduate are a part and parcel of life at IIFT. The following events are conducted in full vigor by the students:

TradeWinds

Trade Winds - IIFT’s flagship event is an Annual Business Summit. Typically held over a course of 4 days, Trade Winds provides a platform for IIFT's students to interact with eminent professionals from the industry as well as various esteemed international organizations. The event comprises 4 summits: The National Finance Symposium, the National Marketing Summit, the National Leadership Summit, and the National Operations Symposium. In 2014, Trade Winds witnessed participation from organizations such as OECD, Finance Ministry, Accenture, KPMG, Xerox India, Louis Dreyfus, Aviva, Biocon India, Ranbaxy, and many others.

Quo Vadis

Quo Vadis, the annual management and cultural festival of IIFT conducts 10 managerial events and over 30 cultural events at a national level. It sees widespread participation across domains of management study from over 60 B-schools throughout the country and is the biggest student event on the IIFT campus.

TedX IIFT

TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. IIFT organizes its own TEDx each year and among all IIFT events, it has the widest reach. TEDx IIFT has seen a rich portfolio of speakers gracing the stage, like Aditi Mittal (stand-up comic of AIB fame), Janardhana Swamy (technocrat, political leader), Rahul Roushan (founder of fakingnews.com), Franz Gastler (football coach and founder of Yuva), Deepika Bharadwaj (journalist, anchor and film-maker) and Shrutikantha Kandali (writer for Going to School) in 2014. It aims to provide a platform for young ambitious B-school students to interact with influencers with motivating life stories across walks of life.

UWL

UWL (Ultimate Warriors League) is the annual sporting event built on the lines of IPL. There are four teams - Aryan Juggernauts, Southern Stallions, Eastern Gladiators and Mumbai Hawks that are up for bidding. After rounds of competitive bidding, the top four bidders get the teams. Each team then appoints a couple of brand managers and then the war of player bidding begins. This IPL style bidding, with an auctioneer at the helm of it, goes on for close to 7-8 hours with 150-180 players going under the hammer. Each team then gets a purse of 2000 points to buy players and build a squad of 30 for each of the sports which includes cricket, futsal, table tennis, badminton, sports quiz, chess, NFS, Counter-Strike etc. It is widely participated in and upholds the fun quotient at IIFT. Cultural engagement is given utmost importance at IIFT through organizing several mandatory events such as Van Mahotsav –the tree plantation drive, ‘Ekta Diwas’ celebrations, trade summits and independence day celebrations of India and other friendly countries. In all, campus life at IIFT is a truly enriching experience.


Notable alumni

  • S.K. Roongta, Managing Director, Vedanta Aluminium
  • Manu Sawhney, Executive Director, Manchester United
  • Rashesh Shah, Founder Edelweiss Capital
  • Arvind Jadhav, Ex CMD Air India
  • Sanjeev Asthana, CEO, Reliance Agro
  • Govind Ambady, CEO, Louis Dreyfus Commodities
  • Ashok B,Director, Supply Chain & Manufacturing,Eli Lilly and Company (India) Pvt. Ltd
  • Atul Gogna, Director Strategy (Asia Pacific),Alcoa
  • Deepak Sehajpaul,Head Africa,Dabur Pharma
  • D. P. Singh, Managing Director, Sara Intl.
  • Dinesh Jain, CEO, Zee Turner
  • Himanshu Sareen, CEO, Icreon
  • Jaspreet Bindra, Regional Director, Microsoft
  • Madhan Krishnaswamy, Director, Flextronics
  • Milind Pant, Managing Director, Yum Restaurants
  • P K Prakash, Director, Cisco Systems Inc
  • Raj Sansi, Director, Sales, Patni
  • Ramesh Natarajan, Head Marketing, DHL India
  • Ramesh Natarajan, VP - Rest of South Asia, DHL
  • Ramesh Vijayaraghavan, Exec. Director, RBS Singapore
  • Ramesh Vijayaraghavan, Executive Director, Morgan Stanley
  • Sanjay Singh, Managing Director, Yamaha Motors
  • Siraj S. Chaudhry, Chairman, Cargill India

Papers and Publications

IIFT regularly publishes papers under two heads- Focus WTO and Foreign Trade Review.[14]

See also

References

  1. ^ http://www.mbauniverse.com/article/id/7252/IIFT-2013
  2. ^ IIFT 2014-15 was held on November 23, 2014
  3. ^ http://www.iift.edu/new/
  4. ^ http://cc.iift.ac.in/docs/iift/CM.pdf
  5. ^ Cite error: The named reference Rankings_QS_B was invoked but never defined (see the help page).
  6. ^ Cite error: The named reference Rankings_IT_B was invoked but never defined (see the help page).
  7. ^ Cite error: The named reference Rankings_CNBC_B was invoked but never defined (see the help page).
  8. ^ http://www.iift.edu/iift/citt
  9. ^ http://cc.iift.ac.in/research/index.asp
  10. ^ http://www.smeiift.com/
  11. ^ http://www.iift.edu/iift/KOL13.pdf
  12. ^ http://cc.iift.ac.in/docs/iift/faq.asp
  13. ^ http://cc.iift.ac.in/docs/iift/csr.asp
  14. ^ [1]

External links

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