IN AN INCREASINGLY interconnected world today, there is a growing demand for professionals who understand the dynamics of international trade. Known for nurturing future leaders in international businesses, Indian Institute of Foreign Trade (IIFT) is now ranked No.1 in Networking and 51 in LinkedIn’s Top 100 MBA programmes in the world. The only B-school under the Ministry of Commerce has also made progress in NIRF (National Institutional Ranking Framework) ranking, jumping from 27th in 2023 to 15th this year.
Since its establishment in 1963, IIFT, with campuses in Delhi and Kolkata, has been ranked consistently among the top business schools, offering an array of innovative Management Development Programmes (MDPs) and Entrepreneurship Development Programmes (EDPs). Globally, IIFT has launched MBA (International Business) Degree Programme in Tanzania in collaboration with the Institute of Finance Management at Dar-es-Salaam. It is setting up a campus in GIFT City, Gujarat, and an offshore campus in Dubai. “The Dubai campus will initially offer short-duration programmes and potentially expand to full-time MBA programmes,” says Niti Nandini Chatnani, Head of International Collaboration and Capacity Development (ICCD), IIFT.
The institute has expanded its collaborations to 45 global universities, facilitating student exchanges for 70-80 students annually. “Recently, collaborations were formed with the University of Bath and the University of Birmingham in the U.K. Domestically, the institute has partnered with the Advertising Standards Council of India and plans to tie up with the Institute of Company Secretaries of India,” says Chatnani.
Out of these 45 universities, 18 are in Europe, 10 in Asia, and 11 in other parts of the world. IIFT signed a MoU with the Institute of Export & International Trade, U.K. in May 2022, and with The Educational Institution Belarus State Economic University in June 2022, for five years each. Among others, it inked a pact with Lund University School of Economics and Management, Sweden, in October 2022, and with Ural Federal University, Russia, in February 2023, for five years in auto-renewal mode.
IIFT is among the top 5% B-schools in the world to be accredited by the Association to Advance Collegiate Schools of Business (AACSB) and has memberships of Association of MBAs (AMBA) and European Quality Improvement System (EQUIS). It is also accredited as an “A+” grade institute by the National Assessment and Accreditation Council. Recently, IIFT filed for the Association of MBAs (AMBA) accreditation, a global standard for MBA, DBA, and Master’s degree programmes held by the top 2% of business schools in the world. In future, it also plans to apply for EQUIS accreditation.
With a focus on international trade and business, IIFT is one among the few institutes that conducts Ph.D., MBA (International Business), MBA (Business Analytics) and MA Economics specialising in International Trade and Finance. Additionally, online certificate programmes were launched in fields of international trade, logistics, global sourcing, customs procedures, foreign trade policy, contract management, and fintech. These are aimed at working executives looking to build specific skills, says Chatnani.
The institute also introduced Ph.D. programmes in management and economics in November 2022, with 21 students joining the course at its Delhi campus. “Research is a vital component at IIFT, with faculty undertaking individual and collaborative projects. These projects often receive funding from RBI, ICSSR and NSE. The institute emphasises on student involvement in live projects through alumni networks,” says Chatnani.
IIFT is in the process of establishing a Centre for International Negotiations to provide training for corporates and policy makers on international negotiations. Besides, it is also establishing a Foreign Trade Case Study Centre to work with exporters, governments and businesses and develop world-class case studies on the lines of Harvard and share Indian experiences on international trade with the rest of the world. It plans to work with central and state governments for research on issues of contemporary importance besides high-end capacity building programmes.
Amid a challenging placement scenario for top management institutes, IIFT achieved 100% placement for its flagship MBA (International Business) 2022-24 batch. “IIFT places significant value on fostering and maintaining strong relationships with trade and industry. Successful placements are a tangible outcome of this dedicated approach,” says Rohit Mehtani, head, corporate relations and placement division at IIFT.