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Education is the true alchemy that can bring India its next golden age.
SHRI PRANAB MUKHERJEE
President of India
T the initiative of Pandit Jawaharlal Nehru, Indian Institute of Foreign Trade (IIFT) was set up on 2nd of May 1963 as in Institution with a focus on foreign trade related research and training. Since inception, the Institute has evolved and undergone major transformations and has, over the years, broadened the scope and dimensions of its academic activity that now encompasses the full spectrum of international business. Today, the Institute, in its 50th year of existence, is widely recognized for its knowledge and resource base, its rich heritage and strong alumni network both in India and abroad. An organization like IIFT grows from within but only after taking the nourishment from its environment. The more numerous and difficult the challenges thrown up by the surrounding system, the greater has been the effort to come up to the level to meet the emerging tasks. The ever evolving character of the foreign trade sector continuously throws up new opportunities and challenges which the Institute in its own way attempts to face by re-delineating the contours of its activities. Today as IIFT celebrates its Golden Jubilee Function, let us revisit the history of the eventful transformation that the Institute has experienced over the past five decades from a foreign trade facilitator to a Centre of Excellence in trade and international business.
the Institute conceptualized a comprehensive programme of conducting research into problems of foreign trade. Works on various long-term and short-term research projects were initiated. These include: (a) Indias Trade with East Europe An Assessment; (b) Analysis of Trade and Payments Agreements entered into by India; (c) Analysis of the Burden of Levies, Cesses and Imposts on the Cost of Production in the Export Sector, (d) Role of Joint Ventures in Export Promotion; short-term projects on Export Documentation and Export Incentives; etc. One very important research project undertaken by the Institute during 1969-70 was the Simplification of Export Procedures and Documents in the entire range of export transactions. This project was sponsored by United States Agency for International Development (USAID). A significant feature of this Project has been the role assumed by the Institute for follow-up action for securing implementation of the recommendations and suggestions emanating from the Study. The Institutes quarterly journal Foreign Trade Review (FTR) was first published in the year 1966 with the primary objective of providing adequate critical analysis and research based information relating to countrys external sector. When the external sector was in its nascent stage, conceptualization of bringing out a journal like FTR exclusively addressing the issues of external sector was considered a significant initiative. In almost five decades of its existence, it has created a platform to address the challenges that the trade and industry and its external sector in general faced during 1960s till date through publication of articles by eminent experts and policy makers.
1960s, IIFT emerged as an Institute with a focus on In facilitating Indias foreign trade performance through its two-pronged strategy: (a) training activities for building up a cadre of competent export management personnel in the country; and (b) initiation of research into various problems of foreign trade, including overseas marketing research.
The decade of 1970s witnessed two successive oil-price shocks during 1973-74 and 1979-80. In line with concerns on Indias energy security, IIFT conducted a series of research projects in the related domain during the same period, viz. (a) Market Strategy in Relation to Iran, Saudi Arabia, Libya and Algeria (1976-77); (b) Prospects of Indias Economic Cooperation and Trade Expansion with Nigeria (April, 1977); (c) Market Opportunities for Selected Engineering Goods in Petroleum Exporting Countries of Saudi Arabia, Libya, Algeria and Iran (October, 1977); (d) Impact of Oil Price Hike on Indias Terms of Trade and Balance of Payments (1981-82) etc. Over the decade, the Institute also gained competence to provide services of training from its platform to other developing countries of Asia, Africa and Latin America as well. The opportunities are being utilized under the programmes of WTO, UNDP and Commonwealth, and under bilateral agreements. For example, to create enlightened public opinion on development issues identified for discussion at the Fifth UNCTAD held in Manila in May-June 1979, the Institute at the instance of UNCTAD Secretariat
Shri T. Balakrishnan Director General 15-11-1979 18-2-1980 Shri P . H. Trivedi Director General 18-2-1980 9-7-1980 Shri C. Venkataraman Director General 11-7-1980 4-12-1980
organized a 2-day National Seminar on New International Economic Order and UNCTAD-V on November 27 and 28, 1978 at Vigyan Bhawan, New Delhi. As a prelude to UNCTAD-V, another 10-day Regional Seminar on Generalized System of Preferences (GSP) was organized by the Institute during April 2-12, 1979 in collaboration with the UNCTAD/UNDP GSP Project, Geneva and the Ministry of Commerce, Civil Supplies and Cooperation, Government of India, New Delhi. 28 participants from different Asian countries participated in the deliberations. This decade saw widespread acknowledgement of IIFTs expertise in International Trade and marked its entry in the fields of consultancy and case research. It can be looked upon as an era of increasing momentum in IIFTs growth trajectory.
1970s, IIFT continued to excel in its advisory role In as a foreign trade facilitator for the country. The twin
pillars on which the entire edifice of the Institutes activities was structured continued to be (i) training, and (ii) research, including market survey.
THe DeCade OF EIGHTIeS: GROWING BeYONd TRaINING aNd CONSULTaNCY INTO aN ACadeMIC INSTITUTION
Shri P . H. Trivedi Director General 5-12-1980 8-9-1981
ecognizing the dynamic aspects of international business management and ever-growing complexities of the functions of international business executives, the Institute felt the need to grow beyond the trade domain. Looking at the changes in global economy, it was decided to train the young professionals in the area of International Business. Thus started the two-year Masters Programme in International Business in 1985. A healthy exchange of ideas and opinions provided IIFTians with a unique world outlook and esprit-de-corps that transcends all cultural boundaries. Later, when IIFT became a Deemed University, the title of the Programme was changed to MBA in International Business MBA (IB). Today MBA (IB) offered at Delhi, Kolkata and Institute of Finance Management (IFM), Dar-es-Salaam, Tanzania, is the flagship programme of IIFT where keen competition for enrolment is witnessed, year after year. The growing interest in MBA (IB) is understandable in the context of widening of markets and governance challenges around the world and consequently the growing complexities of International Business. In line with the countrys cooperative endeavour, which developed into an institutional framework of cooperation in South Asia, the Institute was appointed as a Consultant by IDRC, Canada for a study on Trade Channels Systems and Procedures (A Synthesis Study of India, Pakistan, Bangladesh, Sri Lanka, Nepal and Maldives) during 1983-84. The Study provided an in-depth analysis on the similarity as well as differing aspects of import channels and mechanism in the South Asian countries and was considered as an essential prelude to the subsequent formation of SAARC in December 1985. Recognizing the growing importance of the service sector to Indias GDP, for the first time in the country a Study on Trade in Services was taken up by the Institute in 1984-85, at the instance of the Ministry of Commerce. Attempts were made in the Study to evolve a comprehensive definition of services and data, mapping international trade in services with statistical profile of the service sector with particular reference to developing countries, including India, was compiled. The Report received wide coverage and appreciation from economic dailies and follow-up action with regard to detailed study of various service sectors was subsequently undertaken. In 1987-88 the Silver-Jubilee year of the Institute, IIFT organized a one-day National Seminar on Indian Service Economy in the 21st Century and International Trade in Services. The Seminar held at the instance of the Ministry of Commerce,
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Government of India, provided a curtain raiser for thorough preparations for the multilateral trade negotiations under the Uruguay Round of Multilateral Trade Negotiations under GATT. On an assignment from the Apparel Export Promotion Council, the Institute undertook a desk-based study on Export Prospects for Readymade Garments Implications of the Multi Fibre Agreement (MFA) in 1984-85. The major objectives of the study included an in-depth examination of the important developments in the Indian export garment industry during the last decade since inception of MFA in 1974, and an analysis of export prospects in the framework of varying alternatives. The Study opined that India can safely press for a switch-over to the GATT system, when it has sufficiently enlarged and strengthened its supply base and technological capabilities to withstand the rigours of open competition. The Report provided a time-schedule for Indias eventual liberalization in the international policies towards textiles and clothing. Thus the decade of eighties recorded notable contributions by IIFT in consultancy related to international trade further strengthening its position as a leading Institute in this area. This was the era of IIFT scaling greater heights.
1980s, IIFT felt the need to grow beyond the trade In domain. The decade marked IIFTs emergence
as an academic Institute imparting quality training in ever-growing, but challenging complexities of international business management education to young professionals.
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1994), WTO Agreement on Agriculture vis--vis Global Food Security (16 August 1996), etc. A book entitled Trade in Services: The Uruguay Round and After was released by the then Commerce Minister Shri Pranab Mukherjee in August 1994. This book continues to be a precious starting point on understanding the nuances of trade in services, even today. As India started its journey towards liberalization and its interlinkage with the rest of the world strengthened, the Institute successfully established its strong relationship with regional as well as international organizations in terms of research, training and collaborative projects. The Institutes expertise was utilized by the ITC, ESCAP, UNIDO, UNCTAD, GATT etc. for organizing seminars, training programmes, export management development programmes and market orientation tours, etc. The decade also saw IIFTs intellectual inputs being considered for selection as a Regional Training Centre for International Business Training under ESCAP. The nineties can be looked upon as an era of expansion when IIFT spread its wings in the arena of globalization.
the 1990s, IIFT continued to excel in the domain In of international business management education
recognition as the first B-School in the country offering specialized courses in International Business. At the same time, the Institute emerged as the countrys premier Think-Tank in GATT and WTO-related domain.
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2001 with financial and technical support from the DSIR, Government of India, with the primary objective of supporting the Government to the importance of Indias potential in technology trade and addressing the complexities involved. The Centre for WTO Studies was established in IIFT in 2002 to provide research, analytical and informational support pertaining to the WTO to the Department of Commerce, Government of India on a continuous basis. Since its inception the Centre has taken up research projects in areas pertaining to Intellectual Property Rights, Services, Agriculture and Industryspecific implications of WTO Agreements. As the MSME sector is being increasingly recognized as the backbone of Indian Industry in the era of Globalization, the Centre for MSME Studies was started in May 2005 at the Institute with a view to initiating, supporting and promoting internationalization of the Indian Micro, Small and Medium Enterprises (MSMEs). At the international level, the Centre for MSME Studies has established a wide network in Greater Mekong Sub Region (GMS) including Lao PDR, Cambodia, Vietnam, Thailand and China in collaboration with institutes and organizations including Mekong Institute and International Institute for Trade and Development (Thailand), SMEPDO (Lao PDR), Vietnam Chambers of Commerce and Industry & Young Business Associations (Vietnam) etc. The Centre has signed an MOU with Mekong Institute, Thailand to facilitate towards its initiatives on enhancing trade competitiveness within GMS region. The Centre in collaboration with CBI Netherlands (Centre for the Promotion of Imports from Developing Countries) has been conducting training programmes for SMEs on certain core areas like Export management; Market knowledge; Product and production improvement etc.
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A major achievement in IIFTs cross-border activities in the current millennium activities is reflected in collaborative training programmes with the African Government. In 2011 alone, the Institute conducted 3 Executive Development Programmes on International Business in Burkina Faso (in collaboration with Ministry of Industry, Commerce, Promotion of Private Initiative and Handicrafts), Sudan (in collaboration with Development Studies and Research Institute, University of Khartoum) and Mauritius (in collaboration with Ministry of Foreign Affairs, Regional Integration and International Trade, Government of Mauritius). The past decade witnessed a plethora of proposals by India in terms of Free Trade Agreements (FTAs) and Regional Trade Agreements (RTAs) which are significant to diversify and expand its markets for exports and thus fulfilling multilateral trade liberalization objective. IIFT as an academic Centre for Excellence in international trade and business was at the forefront in formulating policy prescriptions for negotiating such bilateral and multilateral preferential trade agreements. In this context, some of the widely appreciated research projects undertaken by the Institute in recent times include (a) IndiaCanada Free Trade Agreement: Challenges & Opportunities (2009); (b) Feasibility of Entering into Free Trade Agreement (FTA) with Iran (2010); (c) Comprehensive Economic Cooperation between India and Israel: Negotiating Stands for India in Goods Sector (2010); and (d) Assessing the Implications of Existing Free Trade Liberalization Agreements, and Providing Assistance for Negotiations on FTAs (2012). A momentous development in IIFTs academic credentials was realized in 2002, with the grant of Deemed University status by the Ministry of Human Resource Development enabling the Institute to award degrees, start its own doctoral programme and also get higher acceptability and recognition in the internationally competitive academic milieu. To take the advantage of growth in Information and Communication Technology since the late nineties in the country, a decade ago (in 2003) IIFT introduced a dual mode programme combining conventional class room interactions and VSAT based programme delivery. Initially, this programme was available in 25 cities through the technology partner Hughes Communication and currently the reach is in more than 30 cities. Similarly, a large number of Certificate and Diploma programmes were introduced through the online mode.
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With the progress of globalization, a large part of trade and financial transactions now involve cross border flows. A major issue that most emerging market countries thrive to address is how to cope with the world of greater capital mobility. The difficult choice faced by these countries in terms of a trilemma or impossible trinity calls for continued deliberations among academicians, researchers and policymakers towards understanding the intricacies of these flows for trade and financial transactions and its benefit for organizations as well as countries. To facilitate such deliberations, IIFT started its flagship bi-annual Conference on Empirical Issues in International Trade and Finance (EIITF) in 2008 at IIFT, Kolkata campus and is conducted alternatively in Delhi and Kolkata since then. The Millennium marked the commencement of an era of consolidation along with the charting of newer trajectories for the future for IIFT. This decade is witnessing value addition by the Institute in newer areas, enhancement of research activities and focus on innovative approaches to the creation and dissemination of knowledge, earning accolades from industry, policy makers and the wider academic community. The Institute scaled even greater heights, being ranked 21st by the QS Global 200 Business Schools Report in the Asia-Pacific region for 2012.
the decade of 2000 and beyond, IIFT emerged In from a mere foreign trade facilitator to a globally networked Institution in international trade and business. The portfolio of Research expanded from market surveys/export potential studies to policy research so as to facilitate the Government in preparing country positions and effectively present the countrys needs and aspirations in global forum.
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COVER Cluster Flowers in Nature comprise many small blooms that stem from the same base and grow out in different directions, eventually dispersing to far off lands. This is a visual metaphor for International Trade, as well as the creation & dispersion of ideas, knowledge, technology, products & services around the globe. A delicate balance of firm grounding and positive growth, these flowers symbolise inter-dependence, teamwork and holistic learning.
B-21, Qutab Institutional Area, New Delhi J-1/14, EP&GP Block, Sector-V, Salt Lake, Kolkata Website: www.iift.edu
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