The Indian Institute of Foreign Trade (IIFT) held its 50th Convocation (Golden Jubilee) on 19th April, 2016, at New Delhi. 9 students were conferred with Ph.D awards and 319 students received MBA degree in International Business. Smt. Nirmala Sitharaman, Minister of Commerce & Industry, Government of India was the Chief Guest, and Ms. Rita Teaotia, Chairman, IIFT and Secretary, Department of Commerce, Government of India, presided over the function.
Speaking on the occasion, Smt. Nirmala Sitharaman, Minister of Commerce & Industry observed that India is proud to have an institution like IIFT.She pointed out that IIFT plays a very crucial role in making students ready for business and corporate challenges. She also advised the students and faculty to be more proactive and assertive in contributing their inputs to policy formulation, particularly on important issues pertaining to the current trade scenario of the country including space in global value chain, means to enhance manufacturing sector growth in the country, appraisal of existing FTAs, etc. She lauded the achievements of IIFT as a Centre of Knowledge
Ms. Rita Teaotia, Chairman, IIFT and Secretary, Department of Commerce, Government of India talked about significant achievement and continued contribution of IIFT since its inception in 1963 towards trade policy, research and skill development through training in international business. She further highlighted IIFT’s role in promoting key government programmes like Skill India, Startup India and Digital India through its training and research initiatives.
Dr. Surajit Mitra, Director and Vice Chancellor of IIFT congratulated the largest ever batch at IIFT for beating all previous placement records, with 23.8% rise in average compensation at Rs.18.01 Lakh per annum with the highest foreign salary going over Rs.1 Crore (USD1,50,000) for international placement and highest domestic package of Rs. 29 Lakhs. He also spoke about the industry attention which IIFT enjoys especially in the trade domain, where there is recruitment from esteemed organisations like OECD and WTO; in addition to Arthur Daniel Midland, Bunge, Cargill and Louis Dreyfus, popularly known as the ABCD of world trade. He lauded the batch for achieving unprecedented heights and motivated them for the challenges ahead as they brace business ecosystem.