INDIAN INSTITUTE of Foreign Trade (IIFT), one of the premier management institutes in India, recently celebrated its 43rd Convocation with immense enthusiasm where 641 elated students were awarded their degrees, diplomas and certificates. Dr C Rangarajan, Chairman PM’s Economic Advisory Council and Former RBI Governor was the chief guest of the event.
On the occasion, KT Chacko, Director IIFT, congratulated the graduating students and encouraged them to work for the betterment of the society and to reap their dreams of being young entrepreneurs as they are the future of the country.
Addressing IIFT’s 43rd Convocation Dr Rangarajan, said, that he is extremely thankful to the Chairman and Director IIFT for inviting to deliver 43rd Convocation address of this institute. He said that IIFT has emerged as a leading management institution with a focus on external sector.
Exports and imports goods and services taken together constitute more than 35 per cent of GDP, therefore it becomes necessary to pay attention to the external sector in terms of research and training and IIFT is filling this gap admirably.
Dr Rangarajan added, “The world is passing through a difficult time. More so the developed world. The industrially advanced countries are now officially in recession. It is not known at this stage how long will this recession last and how deep it will be. India’s growth rates will be below seven per cent as compared to nine per cent in previous year. Prospects do not appear to be better. While in 2008-09 the first half escaped the impact of global recession, in the current year the impact will be felt throughout the year.”
“What stands out in the current episode is the regulatory failure. First some parts of the financial system were either loosely regulated or not regulated at all. The second failure lies in the imperfect understanding of the implications of various derivative products, ” he said.
At the convocation ceremony, total 641 students graduated, including 168 students from the 2007-2009 batch of the two-year full time MBA in International Business. Prestigious Dun & Bradstreet award for best student was awarded to Ruchita Mishra, MBA-IB batch 2007-09 and Sunita Chisti award were given to Ruchita Mishra from IIFT Delhi and Rishabh Chandra from IIFT Kolkata for best performance in ‘Economics & Trade Policy’. Gold medal was awarded to again Ruchita Mishra. Mohit Lohia and Nipun Gupta bagged the silver medal, while Shruti Mehrotra was awarded the bronze medal.
“Despite the economic slowdown, we achieved 100 per cent placements of our students, reflecting recruiter’s confidence in our students. We shall continue efforts to provide updated knowledge and skills to student so as to make them good leaders,” said Munish Bhargava,
This year the highest domestic salary for MBA-IB students was Rs 19 lakhs. The list of recruiters this year included global companies such as ITC, Colgate Palmolive, Nomura Holdings, Coca Cola, Mahindra & Mahindra, Bharti Airtel, Glenmark, Titan, Bajaj Auto, Cargill, Tata Motors, Axis Bank, ICRA, Unicon Securities, Eli Lilly, Vodafone, Virgin mobile, Philips Godfrey, Essar Group, Tata Steel, Usha International, A.P.Moller Maersk, Fino Analytics, Darashaw, Mitsui & co, Merck, CARE Ratings, Seimens and Bertling Global.
About Indian Institute of Foreign Trade (IIFT):
IIFT, established by the Ministry of Commerce, Government of India in 1963, is a leading research and training institute in International Business. In recognition of its academic rigor & excellence, IIFT was accorded the status of Deemed University in 2002. In an era of increasing globalisation, what makes the IIFT programmes unique is the emphasis on international dimensions of economy and business. Continuous research has been the backbone for updating IIFT curriculum in order to reflect the fast changing global business dynamics. It is in this context that IIFT has set up a number of Research Centers like the Centre for WTO Studies, Centre for International Trade and Technology and Centre for Small and Medium Enterprises. The activities of these centers reinforce the research orientation of the pedagogy.