By TIOL News Service

NEW DELHI, NOV 12, 2024: UNION Commerce and Industry Minister Piyush Goyal in his virtual address during the 57th Convocation of The Indian Institute of Foreign Trade (IIFT) motivated the students to stay informed about new trade agreements, using these as avenues to create fresh business opportunities and access new markets. During the address held in New Delhi today, he noted that this knowledge would contribute to the ambitious target of a 'Viksit Bharat,' including the goal of reaching USD2 trillion in trade. Highlighting sectors such as telecom, semiconductors, deep-sea exploration, and space technology, he urged them to contribute to these fields with a forward-thinking mindset.

In his inspiring message, Goyal urged the graduates to embrace their roles as socially responsible professionals. He emphasized the critical importance of ethical business practices, underscoring how today's organizations are expected to uphold Corporate Social Responsibility (CSR) principles. He encouraged the graduates to integrate social issues into their management practices, aligning corporate goals with community welfare to make a positive impact on society. He further advised the young graduates to chart their paths to success through innovation, especially by engaging with emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML).

He complimented the Chancellor, Vice Chancellor, faculty and the students in making IIFT as centre for academic excellence. He also mentioned about the IIFT's first overseas Campus in Dubai, thus thereby spreading its wings in the international business community. He emphasized the dedication and resilience of the students that have brought them to this milestone, equipping them with the skills and knowledge necessary to excel in their future careers.

The Indian Institute of Foreign Trade (IIFT) hosted its 57th Convocation on 11 November, 2024 in New Delhi, with grandeur, marking a significant milestone in the institute's legacy of excellence. The event was graced by a virtual address from Union Minister of Commerce & Industry, Government of India, Piyush Goyal, Chancellor of IIFT and Secretary of the Department of Commerce, Sunil Barthwal presided over the event. The ceremony was honored by the presence of Managing Director of Gujarat Co-operative Milk Marketing Federation Ltd., (Amul), Dr. Jayen Mehta, as the Chief Guest, who delivered an inspiring convocation address to the graduates. During the convocation degrees were conferred to more than 650 students from various programs, including the flagship MBA (International Business), MA (Economics) with specialization in International Trade and Finance, Ph.D. in Management and Economics, and Executive Programmes, underscoring IIFT's commitment to train students in the fields of International Business, Economics and Trade.

Sunil Barthwal, Chancellor, IIFT and Secretary, Department of Commerce, Government of India, commended the graduating students for their determination and hard work in reaching this pivotal stage in their lives and encouraged them to apply their learnings from IIFT in their professional careers. Barthwal highlighted IIFT's recent achievements in research and consulting, noting that the institution has developed substantial expertise in analyzing international business environments and creating strategic solutions for corporates. He lauded IIFT's stellar performance in the National Institutional Ranking Framework (NIRF) by the Ministry of Education, where it ranks among the top 15 B-schools in India. He also spoke about the upcoming overseas campus in Dubai, which is expected to bring IIFT's unique educational offerings to the Indian diaspora in the UAE and the international community at large, fostering deeper global connectivity. Reflecting on the need for skilled professionals in international trade, Barthwal shared details about the newly established Centre for International Negotiations at IIFT, which will provide a platform for students, government officials, and corporate negotiators to learn from each other's expertise. He also discussed about the future initiatives, establishment of IIFT Case Centre.  He hoped that the Case Centre would enhance the learning experience at IIFT by developing high-quality, India-focused business cases, and enriching students' exposure to real-world problem-solving within the context of global business challenges.

The Chief Guest, Dr. Jayen Mehta, encouraged the graduating students to explore rewarding careers in international business and trade. He highlighted the remarkable achievements of Indian companies in reaching new global markets and underscored how international business expertise could position students to be at the forefront of India's expanding global footprint. He shared insights into how Amul and other leading Indian brands are strengthening India's presence on the world stage, creating opportunities for talented professionals in trade and commerce. Dr. Mehta's address underscored the significance of cooperatives in strengthening India's rural economy and ultimately empowering farmers, highlighting the pivotal role cooperatives play in fostering economic resilience at the grassroots level. Dr. Mehta also urged the graduates to prioritize human values and uphold strong ethical principles in their professional lives. Additionally, he reminded them to pay attention to their personal health and well-being, recognizing that a balanced and healthy lifestyle is essential for long-term success and fulfillment.

Congratulating the graduating students, Professor Rakesh Mohan Joshi, Vice Chancellor, IIFT emphasized the significance of hard work and imbibing contemporary managerial skills as critical factors for success in corporate life.  Prof. Rakesh Mohan Joshi commended the faculty and staff for their commitment to academic excellence, which has contributed to IIFT's reputation as a leader in international business education. Prof. Joshi noted that despite challenges in the job market, IIFT achieved 100 percent placements for its graduating class underscoring the institute's commitment to preparing students with skills that meet industry demands.  He emphasized the importance of working closely with the industry and government which has helped the institute to contribute to cutting-edge research and policy inputs. Prof. Rakesh Mohan Joshi also acknowledged IIFT's recent collaborations with prestigious universities in the United States and Europe, strengthening its global engagement and offering students valuable international exposure. He applauded IIFT's research initiatives, which have contributed to its high rankings nationally and internationally, solidifying its role in shaping the future of trade and commerce education.