The Indian Institute of Foreign Trade (IIFT) will open its new Dubai campus in Expo City next academic session. Vice-Chancellor Rakesh Mohan Joshi announced the institute also plans to integrate Artificial Intelligence (AI) into MBA programs and improve student placements.
Dubai Campus Launch
The Dubai campus has received all necessary approvals from both the Dubai and Indian governments. This approval process spanned two years. An IIFT New Delhi team will visit Dubai soon for preparatory work.
The campus will offer MBA, diploma, and certificate programs. It will also provide executive development and research programs. All courses will focus on international trade, a core strength for IIFT. Dubai functions as a central hub for global trade, aligning with IIFT’s specialized focus.
IIFT plans to customize its programs to meet local demand. The institute is also evaluating the launch of a Bachelor of Business Administration (BBA) program in Dubai.
AI Integration in Education
IIFT is integrating Artificial Intelligence into its teaching methods. Vice-Chancellor Joshi stated AI is rapidly transforming the business environment and educational system. The institute aims to prepare students, managers, and professionals for these changes.
Students will focus on conceptual understanding and decision-making. AI tools are already assisting with assignments and research, reducing repetitive tasks. Recruitment processes for companies are also expected to change significantly due to AI advancements.
Placement Performance and Outlook
IIFT placements faced a challenging market last year. However, IIFT recorded a highest placement of Rs 1.2 crore . This figure exceeded placement statistics from most top Indian Institutes of Management (IIMs).
IIFT is actively collaborating with industry and government partners. The institute anticipates improved placement outcomes for the current year.
Evolution of Management Education
Management education in India has undergone a complete transformation. It evolved from basic MBA programs to a large ecosystem of specialized management schools. Pedagogy shifted from an inward focus to incorporating global issues and changes.
Technology has enabled this expansion, allowing for online programs. Vice-Chancellor Joshi noted the value of a general MBA is declining. Admission to general MBA institutes is now easier than 20 years ago.
IIFT’s specialized training in international business and trade makes it highly relevant. The institute offers a business analytics course, training students in data-driven decision-making. IIFT plans to replicate successful Delhi campus programs at its other locations, based on demand.
National Expansion and Government Support
IIFT has expanded its domestic footprint beyond Delhi. Campuses include Kolkata, established in 2006, and Kakinada, Andhra Pradesh. The Kakinada campus launched an MBA program and is moving to a new 30-acre site.
A new campus also operates in GIFT City, Gandhinagar, Gujarat. This campus offers an MBA in international trade and business. GIFT City is a global financial center hosting multinational companies.
State governments have provided substantial support for IIFT’s expansion. The Kakinada campus received 50% of its funding and land from the state government. The Gujarat government also supports the GIFT City campus. This expansion aims to increase IIFT’s brand value and address India’s need for professionals trained in international trade.
National Education Policy Implementation
IIFT is in the process of implementing the National Education Policy (NEP). NEP emphasizes integrating diverse academic disciplines. International trade and business inherently integrate various fields, aligning with the NEP’s objectives. IIFT continues to focus on internationalization, globalization, and trade.
PhD Programs Growth
IIFT’s PhD programs are popular. Approximately 140 to 150 PhD students are currently enrolled across the Delhi and Kolkata campuses. IIFT plans to launch PhD programs at the Kakinada campus and the upcoming Dubai campus. Research focuses on integrating with industry and solving real-world problems.