IIFT wins CFA Global Investment Research Challenge-India FINALS

Wednesday, December 14, 2011 Posted by Bibaswan Banerjee

Five students of MBA-IB, second year ( Navin BabuThangaraj VenkatachalamMaharajan NallasivanPranav Bajoria and Arul Vel Arasan) made IIFT proud yesterday by emerging winners in the National Finals of the CFA Global Investment Research Challenge held in the Bloomberg Office in Mumbai.

The competition is supported by three premier organizations including NSE (National Stock Exchange), Bloomberg and Bloomberg UTV as sponsors and long term corporate partners.
CFA Institute, the global association of investment professionals worldwide, promoting the best practices in equity research among the next generation of analysts in association with the Indian Association of Investment Professionals (IAIP), launched the “CFA Institute Research Challenge”. This is an annual, global educational initiative launched by the CFA Institute.

The panel of judges for the event included:
  • Sunil Singhania, CFA, Head - Equity Investments, Reliance Capital Asset Management Ltd; and President of IAIP
  • Ratnesh Kumar, Managing Director and Head, Standard Chartered Securities India
  • Alan Meder CFA, SVP and Chief Risk Officer, Duff & Phelps Investment Management Co.; and Vice Chair, CFA Institute Board of Governors
  • Ramesh Damani, seasoned investor with over two decades of experience
The team now moves on to compete in the Asia Pacific Final that will be held in Hong Kong in March 2012 and which will feature the best B-schools from Asia. 

IIFT has yet again proved its mettle edging out several of the top b-schools in this country like the IIM's to win this honour.

All the best guys for the Asia Pacific Round! GO IIFT GO!!

QS Global 200 Survey ranks IIFT 21st best b-school in ASIA PACIFIC region

Friday, December 09, 2011 Posted by Bibaswan Banerjee

IIFT scaled even greater heights today, being ranked 21st by QS Global 200 survey in its best b-schools in the Asia pacific region survey. IIM-A was the highest ranked Indian b-school in the list with a rank of 2nd.

According to the report, IIFT is the 21st best B School in Asia Pacific Region. Survey is based on Recruiter's opinion. Find below the links for the same.

NDTV Politically Incorrect at IIFT Campus

Wednesday, December 07, 2011 Posted by Bibaswan Banerjee

NDTV Politically Incorrect was shot at the IIFT Campus on December 4th. The guests who participated in the debate included Mr. Mani Shankar Aiyar and Mr. Swapan Dasgupta. The debate was moderated by Ankita Mukherji. The topic was the current hotcake "Does the rollback of FDI in retail signal the end of the Indian growth story ?". Students from both the 2012 and 2013 batches were present in the audience and they participated actively by asking incisive questions which was greatly appreciated by the guests.

The show will be telecast at 9:30 PM on Friday, 9th December on NDTV 24x7. There will also be a repeat telecast at 9:30 AM on the following morning. Don't miss the episode.

Photos coming soon!

Ad Mad Results!!

Saturday, November 19, 2011 Posted by Bibaswan Banerjee


1st: Hindu-I (Hindu College)
2nd (tied): Junoon-I: Dyal Singh (evening) and A Few Bad Men (IIFT)

Brand Vistaar Results Declared

Friday, November 18, 2011 Posted by Bibaswan Banerjee

Winners:Team Mavericks from MDI
Runners'-up: Team Sammies from MICA
Congratulations to the winners

Results of Bollywood Ka Shahenshah(Informals)

Friday, November 18, 2011 Posted by Bibaswan Banerjee

Arjun Chopra
Shashank Malhotra
Arun Panigrahi
Arunesh Sharma 
Dhruba Jyoti Chatterjee 
Each get Rs 1000.

Religare SHODH Results Declared!!

Friday, November 18, 2011 Posted by Bibaswan Banerjee

Winners: IIFT Delhi-Nandan Sharma,Nishtha Anand, Prince Goel
Runners'-up: MDI Gurgaon-Ankit Kumar Gupta,Dhaval Shah

Both teams have won prizes along with PPIs from Religare.


International Paper Writing Contest RESULTS

Friday, November 18, 2011 Posted by Bibaswan Banerjee

Event Title

International Paper Writing Contest


Winner: Riddhi Biswas-IIM K

1st Runners-up:Joymalya Bandopadhyay-XLRI Jamshedpur

2nd Runners-up: Aniket R Khare-IIFT Delhi


Quo Vadis Coverage in HT!!

Friday, November 18, 2011 Posted by Bibaswan Banerjee


Even before the inaugration, Quo Vadis 2011 is hitting the headlines. Check out this full page coverage of IIFT's annual management and cultural festival.


Thursday, November 17, 2011 Posted by Bibaswan Banerjee

The wait has been excruciating but finally the long days have given way to a mere few hours.

We are now less than 12 hours away from the inauguration ceremony of one of the biggest events in the Indian b-school scene...

Indian Institute of Foreign Trade, New Delhi takes great pride in presenting 

                                       where the journey begins...

DAY 1 (b-schoolers might understand DAY 0 better) is going to be a packed affair. Be ready for loads of competitions with enormous prize money on offer and a truckload of pure unadulterated fun. 

At 5:30 PM tomorrow, a press conference will be happening on campus where we introduce the star performers for the celebrity nights of 19th and 20th November. (DAY 2 and DAY 3 respectively)

19th November: Farhan Saeed (Jal Fame)
20th November: Shafqat Amanat Ali

The final event of the day will see seven excellent bands battle it out on stage for BAJAO: the WAR OF BANDS!! The audience are in for the time of their lives. 

QUO VADIS 2011 is going to blow your mind!!!

Be here at IIFT and experience the THRILL!!

P.S: If you are away from the stage, never mind! Stay tuned , 'cause we are going to be here all day long with live updates  and news as the day progresses.

Farhan Saeed at Quo Vadis 2011...

Wednesday, November 16, 2011 Posted by Bibaswan Banerjee

Farhan Saeed (does "Jal" sound familiar ??) is coming to IIFT on 19th November 2011. He will be performing on Celebrity Night-1 at IIFT Quo Vadis 2011. "Aadat", "Lamhey", "Panchi" and a lot more awaits. Don't miss it. Passes are now available. Keep tuned to Quo Vadis 2011 Facebook page for all the latest updates.

A voice that touches the soul...Shafqat Amanat Ali

Saturday, November 12, 2011 Posted by Bibaswan Banerjee

Born into the famed Patiala gharana, Shafqat Amanat Ali was immersed into classical music almost as quickly he could frame his first sentences.Little did he know that he would one day become the lead singer of one of Pakistan's leading fusion and Sufi-rock bands: "Fuzon".

Shafqat's singing prominently betrays his lineage and his classical prowess shines through. Songs like "Mora Saiyyan" and "Aankhon ke Saagar" transcended borders effortlessly and charmed audiences across the subcontinent. Indian audiences were quick to accept and appreciate the phenomenal talent that is Shafqat Amanat Ali. Since then, there has been no looking back for the musician. Shafqat currently has an extremely successful career as a solo artist and playback singer in the Indian and Pakistani film industries. "Mitwa", "Yeh Honsla" and the current sensation "Dildaara" are but a few of his masterpieces. He has truly proved himself to be a singer who can do justice to any kind of song across different musical genres.

Watch Shafqat Amanat Ali perform LIVE at Quo Vadis 2011: Celebrity Night 2.
Date: 20th November, 2011.
Location: IIFT Campus, New Delhi.

Be there!!

Less than a week to go for Quo Vadis 2011...

Saturday, November 12, 2011 Posted by Bibaswan Banerjee

One of the biggest management and cultural festivals in the Indian b-school scene, Quo Vadis will go live on 18th November, 2011 at the IIFT campus in New Delhi. The preliminary rounds for the various competitions are already happening and teams/individuals from the top b-schools in the country are fighting it out online. Keep a close watch on www.iift-quovadis.com to stay informed about deadlines and all the latest news related to Quo Vadis.

All events are listed on Dare2Compete as well. Prizes worth Rs. 15 lakhs and a chance to compete with participants from the best b-schools in India and abroad: that is what is at stake. Don't miss the opportunity.

Media Coverage for IIFT's Africa Business Conclave

Thursday, November 10, 2011 Posted by Bibaswan Banerjee

The Indian Institute of Foreign Trade (IIFT) recently organised a business conclave in collaboration with African countries at its Delhi campus. This conclave was an endeavour to explore the opportunities present in Africa and also to make the delegates and students aware about the challenges and social and cultural aspects of doing business in Africa. IIFT is the only institute where students of the flagship MBA programme have institutionalised an Africa Business Cell dedicated to do business in Africa and understanding the challenges for the same. On the occasion RM Joshi, chairperson, International Projects Division, IIFT, said, “As one can see, after the economic slowdown in the US and Europe, Africa has come up as strong nation with wide opportunities. And IIFT has been entrusted with the responsibility of setting up a foreign trade institute in Africa and to improvise the quality of education by organising capacity building programmes.”

IIFT Grand Alumni Reunion, 2011

Monday, November 07, 2011 Posted by Bibaswan Banerjee

On 5th November, IIFT, Delhi campus hosted the grand alumni reunion for the year 2011. The campus had decked up with banners and bright lights as it welcomed its prestigious alumni and their family members.
The evening started off with the director Sri KT Chacko and corporate placement adviser/faculty alumni coordinator Shri Munish Bhargava addressing the august gathering. For the first time, two alumni of the year awards were given out. The first award for the alumni of the year-business executive was given to Shri K. V. Rao (MPIB batch 1984), a TAS alumnus and currently head of Tata Power, Singapore. The second award for the alumni of the year-entrpreneur was given to Shri Nand Kishore Rathi (MPIB batch 1985) who is currently the CEO of his own firm, Premium Apparels which is based out of Hong Kong and has revenues of over 40 million USD.
Following the awards, students from both the current batches of MBA-IB performed for the alumni. The evening culminated with a grand dinner hosted by the Director. It was a memorable experience for the alumni who got a chance to reconnect with their alma mater and a fanatstic opportunity for the current batch of students to interact with the alumni and fully appreciate the fact that they are part of a larger fraternity.

Quo Vadis 2011...15 days to go...

Wednesday, November 02, 2011 Posted by Bibaswan Banerjee

The build up to IIFT's annual international management and cultural festival is in full swing. Events are being launched every single day and competition is heating up. Here is a list of the major events which have been launched already as part of Quo Vadis 2011.

1.) RanNiti
2.) Consigliere
3.) Green Mark
4.) Aahvaan
5.) Operazor
6.) International Paper Writing Competition
7.) Bajao
8.) Jack of All Trades.

Check www.iift-quovadis.com for new launches and further details about the competitions which have already been launched.

Quo Vadis 2011...website launched!!

Monday, October 17, 2011 Posted by Bibaswan Banerjee

Quo Vadis 2011 website has now been officially launched....do check it out!!

IIFT Grand Alumni Reunion, 2011

Saturday, October 15, 2011 Posted by Bibaswan Banerjee

IIFT Alumni Committee cordially invites all alumni to the Grand Alumni Reunion on Saturday - 05th of November 2011 at the IIFT, Delhi campus.

Quo Vadis 2011-RanNiti

Thursday, October 13, 2011 Posted by Bibaswan Banerjee

Socrates, the consulting club at IIFT, Delhi in association with Mahindra and Mahindra presents the flagship strategy event at Quo Vadis, 2011 - "RanNiti".

RanNiti will provide management students from across the country a platform where they can come up with market entry and growth strategies for Mahindra Farm Equipments in Africa-the business destination of the next decade. The rich African continent is the next frontier for global business and the competition will not only allow teams the thrill of competition but also the chance to work on a very relevant business issue.

Team Format:
Members: 2 to 3 members per team.

Round 1 : Online Quiz (Preliminary Round)
Online Quiz
Date : 15th October 2011
The first phase of the competition will feature 40 multiple choice questions on African Economy and Farm Equipment sector. Round 1 is open to students from all the colleges. Time duration for this round is 30 mins.
The quiz will be mailed to the team leader and would also be put up on the Quo Vadis Website.

Round 2: Case Study - The Approach
Date: 18th October 2011
This round will have the shortlisted teams to develop a five slide presentation stressing on the approach the team is going to follow. This presentation will ideally be a team’s plan of actions. This round will have only 20 Teams.

Round 3: Case Study - The Analysis
Date: 15th November 2011
This will be the final round where 5 shortlisted teams will be invited to present their detailed analysis in front of an eminent panel comprising of Industry stalwarts and veterans
All the shortlisted teams will be constantly mentored by experts from Mahindra and Mahindra.

1st Prize – Rs. 75000 + Goodies
2nd Prize – Rs. 50000 + Goodies
To and fro AC III tier class fares will be reimbursed as per the shortest possible route, to the finalists.

Event Blog:

Facebook page:

Tribute to Steve Jobs

Though I had never owned an Apple product, I am a member of its huge fan base. Its indeed a sad news to learn that the one person who has revolutionized the way we thought of electronics, particularly music players and mobile phones - Steve Jobs - is no more alive.
What made Steve special and unique was his ability to marry art and science, and his vision about changing the way people used technology. A person who has transformed the electronics industry, and was loved by his competitors because he had introduced many new unchartered product categories and created a huge market in those categories.
Though a technologist, Steve is not an engineer and probably that was one of his strength. He had always thought of the providing new, unique and rewarding experiences to customers and it was the duty of the Apple engineers to meet his demands, and thus kept him focused about his new products and adding newer and unique features to them.
Thank You Steve for your words 'Stay Hungry Stay Foolish', they have had such a deep impact on me, they constantly keep me motivating to become a successful entrepreneur! R.I.P Steve !!

Quo Vadis 2011...the countdown begins..

Thursday, October 06, 2011 Posted by Bibaswan Banerjee

Indian Institute of Foreign Trade proudly announces the launch of Quo Vadis, 2011. Building on the grand success of last year's event, Quo Vadis, 2011 is all set to scale even greater heights: transcending boundaries and going international for the very first time. With a diverse and exciting line up of events that will challenge budding managers from top b-schools across the country and fantastic prize money and tons of goodies on offer from the top corporates of the country, things are going to heat up amidst the November chill in Delhi . However, it is not going to be only case studies, debates and quizzes. Unleash the rockstar inside you and let creativity flow at Quo Vadis, 2011. With exciting cultural competitions and a special musical night which will see performances from some of the top artists from the Indian music industry, Quo Vadis, 2011 is going to be an unforgettable experience. The place to be at, from November 18-20 is IIFT, Delhi. The countdown has begun...
Keep watching this space for more information.

Singapore Conclave: Amazing List of Speakers

Tuesday, August 23, 2011 Posted by Bhushan Bapat

The confirmed list of speakers 
  • Mr. Jignesh Shah - Group Chief Executive Officer, Financial Technologies Group (Owner of MCX and SMX)
  • Mr. Kasi Viswanathan – Regional Director, Noble Resources
  • Mr. Matthew Sullivan - Director, Energy Solutions, HSBC
  • Mr. Nicholas Trevethan - Sr. Commodities Strategist, ANZ Bank
  • Mr. Kiew Won lee – Structured Trade Finance, Bunge
  • Mr. Ho Meng Kit - Chief Executive Officer, Singapore Business Federation (SBF)
  • Mr. Vijay Iyengar - Founder & Former CEO, Agro Corp Intl (one of the fastest growing agri trading companies in the world)
  • Mr. K. V. Rao – Resident Director, Tata Power
  • Mr. T. K. Sengupta – Managing Director, MMTC Transnational Pte Ltd (MTPL)
  • Mr. Brad Ridge, CEO/Principal Partner, Grid Investment Capital
  • Mr. Manvinder Singh – Vice President, AFG Capital Management
  • Mr. Adrian Sim, Diamond Mine Capital

    Over 130 corporate delegates comprising the Who’s Who of Commodities Inc. & the finest Trade Financiers of the world have confirmed their participation at the conclave!!!
    Prominent names amongst them –
    • Managing Director – Cocoa Platform, Archer Daniels Midland
    • Global Co-head – Hedge Funds & Derivatives Sales, Royal Bank of Scotland
    • Managing Director – Global Oil & Gas Group, Standard Chartered
    • Senior Vice President – Enterprise Banking, Development Bank of Singapore
    • Senior Vice President – Commercial Banking, HSBC
    • Head of South East Asia, Eurex Frankfurt (Eurex is considered one of the "big three" derivative exchanges, along with NYSE Euronext Liffe and the Chicago Mercantile Exchange )
    • Executive Director, KPMG Corporate Finance Pte Ltd
    • Vice President, BNP Paribas Wealth Management
    • Chief Executive Officer, Tata Capital Advisors
    • Director of Policy, International Swaps & Derivatives Association

    No explanation required.

    The event is REALLY BIG !!!

    Go IIFT Go !!!

IIFT's Truly International Event: Commodity Trading Conclave In Singapore

Tuesday, August 23, 2011 Posted by Bhushan Bapat

Proud to be an IIFTian!

We are proud to announce that IIFT, Delhi sits at rank 7 in this year’s BT-Nielsen rankings of India's Best
B-schools, and is at the top among the three non-IIMs to be featured in the coveted Top 10.

While other B-Schools have dropped down a rank or two, IIFT has moved up the ladder steadily from rank number 11 in 2010 and 17 in 2009. In the backdrop of the global slowdown and recession, IIFT has successfully maintained its status as one of India’s premier B-School.

Not only does IIFT scores high on Faculty (Rank 4) and HR/Function Heads Rankings (Rank 6), it is also the most preferred destination after six of the IIMs and ISB, Hyderabad.
The rankings were base on scores obtained in a perception survey polling 1,732 stakeholders (MBA aspirants, current MBA students, young executives, recruiters, functional heads and full-time B-school faculty) across 13 cities spanning the top 60 B-schools in India.

Read more here. Watch the video below:

FDI in the Indian Retail Sector

Monday, August 08, 2011 Posted by Pratheesh

Author: Ratin Duggal

In 2004, the Delhi High Court defined ‘retail’ as a sale for final consumption and not for further processing. It is the final stage in the manufacturer to consumer cycle.

As per Press Note 4 issued by DIPP and consolidated FDI policy issued in Oct 2010, 100% FDI is allowed in the cash and carry wholesale trading and export trading category, under the automatic route. FDI up to 51% is allowed in the single brand retail category after approval by the Foreign Investment promotion Board (FIPB).

The third key point is what has the Walmarts and the Tescos sulking at India’s doorstep.

FDI is not permitted in the multi brand retailing category.

In July 2010 , the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce circulated a discussion paper on allowing FDI in multi brand retail. It does not provide any limitation on the FDI investment that can be done in multi brand retail. If implemented it will open doors to global giants who are waiting to take advantage of the growing Indian market. The share prices of Indian multi brand retail chains have seen an increase ever since news of this proposal hit markets. This clearly shows that notall fear the FDI that may come in.

In the current scenario unorganized sector accounts for nearly 93-95% of the total market share. The local haats and kirana shops dominate the markets and are a major source of employment for many. In fact after agriculture Indian Retail sector is the biggest employer and accounts for nearly 10% of India’s GDP.

The key points in favour of the opening up of the retail sector are greater accessibility to foreign markets and greater return for farmers. India is the second largest producer of fruits and vegetables but due to lack of proper infrastructure (like cold storage units) billions of dollars of food is wasted every year. Although 100% FDI is allowed in cold storage, the lack of FDI in multi brand retail has discouraged any major investment in this direction.

The risk we run by opening up the sector is that millions of jobs could be in jeopardy. Also after entering the market the greater buying power of these retail houses could limit the price received by suppliers thus killing many MSMEs. It might also have social impacts as the divide between cities and villages will become greater.

Initially these retailers will be allowed to operate only in six major cities and the challenges faced by them are huge. Will single brand foreign retailers buy out their Indian partners? Will the franchisee model cease to exist? Also will multi brand retailers be able to penetrate into the rural market where the personal touch of kirana shops and the rapport they share with customers pose a challenge?

Eventually the sector needs to be opened up to put India on the map as a destination for global food sourcing and to better prospects for farmers. The key question is when?

In my opinion with the increase in microfinance institutions and multi brand Indian retailers we might see an increase in the market share of the organized sector. Perhaps we need to give more time to the Indian retailers to develop and improve upon their own processes. Definitely a deadline should be drawn by the government to not only assure foreign investors of the government’s inclination to allow growth but also to ensure that Indian retailers clean up their act and concentrate on greater transparency and cost competitiveness.

In another 3-4 years the Retail market should be opened up to trigger the next phase of growth in the India Shining story. This will give time to Indian retailers to gear up for the foreign investors and also to the foreign MNCs to understand the market sentiment better.

First Month at IIFT

Saturday, August 06, 2011 Posted by Arnab Chatterjee

Author: Dhruba Jyoti Chatterjee

MBA-IB 2011-13,New Delhi Campus

As I was walking past the Academic Block today, a bland piece of paper caught my attention. It said – Applications for MBA (IB) – 2012-14 (Full Time) available. I smiled. Not a long time back, I was one of the many aspirants seeking the right to call himself an IIFTian. Today, as I complete a month at IIFT, I can safely claim that I have completed (1/24) th of the journey towards that goal (Pardon me for the exaggeration, but the hangover of the business statistics quiz will take some time to subside!).

So, how has it been so far? The immediate responses from the heart are: Hectic, Demanding and Sleep-depriving. On most mornings, it becomes impossible to believe that water is chemically neutral, for it makes my eyes burn as I try to wash away the dreariness from them. The subjects haven’t made my life any easier. I now know how hard it is to ‘balance’ a balance sheet; the bell-shaped curve has made frequent appearances in my nightmares; I fail to see the difference between segmentation, targeting and positioning, beyond their spellings and pronunciations. In between shuffling the pages of the textbooks (cumulatively heavier than yours truly) and understanding acronyms/jargons/ fundae/formulae, I am also unlearning and relearning a few things; the alphabetical system, for example. In a world, where the evening begins at 23:59:59 and GAS is not just a state of matter, but part of your daily conversations and content for the answer sheets, alphabets have assumed a whole new meaning. The letter A doesn’t remind me of the fruit/product Apple anymore; nor does the ball represent the alphabet B. In my new world, A stands for Assignments, B for ‘Babloo ke Paranthe’, C for CV, D for Deadlines and so on and so forth. It’s easier to count the days when I faced a quiz than the ones when I didn’t. I almost feel the chairs greeting me as I enter the auditorium or the NCH, for I have spent more time with them than anyone else in the college so far. Yet, every night (technically morning) when I eventually hit the bed, I go down with the satisfaction of having spent the day productively, having learnt something new.

As I slowly find my feet in this new phase of my life, walking away from my comfort zone, I can see many others like me, frantically waving their hands – my new friends and mentors, welcoming me in this world of exciting challenges and wonderful opportunities. Well, the journey has just begun. And I am in no real hurry to finish it! Hopefully, we, the batch of 2011-13, shall make it a memorable one.


Saturday, July 09, 2011 Posted by Pratheesh

Author: Avinash Shandilya

The above statement defines the entire concept of the Lokpal Bill. The details about the Who and the What and the Where and the How have been all over the news. We have made a mockery of ourselves. Somebody who was a nobody has been raised to the status of being a Mahatma and the crusade titled Satyagrah. Excuse me, even Mahatma Gandhi would not have adhered to such banal commercialisation of something as pure as fasting for a noble cause.

The point which I would like to make through this article is the sheer irrelevance of holding the country’s sanctity to ransom and disrupting the functioning of the parliamentary body, when our parliament is the highest authority which frames laws. Civil society bonded together by their collective frustration against corruption (cases for which are popping up every week like the spread of mosquitoes during the rainy season at NCR) has taken the mantle upon themselves to have a complete overhaul of the system. It is true that a malaise exists in the system and we have all the right to be disappointed. It is our responsibility to take collective remedial actions as well. In the past when we did not do anything to counter corruption, we the general people blamed each other for the lack of pride in cleaning our own houses. Now that we are doing it, we are doing it under a shaky leadership and the connotations have been there for all of us to see.

The issue of the Lokpal Bill have been driven by political undertones. Lets try and reanalyse the issue from the perspective of a common man. Why do people like me and you need the Lokpal? Why do we need the Prime Minister to be under its ambit? In a few days time we will also fight for the Supreme court to be under the ambit of the Lokpal? People like me and you will not get a penny in our hands even if the black money, on the pretext of which the entire campaign has been staged, returns back. Since the issue has been raised, the government is trying its level best to bring all the tax havens onto the negotiation table. Agreements are being signed. India aspires to have a permanat seat in the UN. We aspire to be the new power bloc in the world. India has a cultural heritage of tolerance and that is what has helped us sustain as a collective unit. We are not hardwired to deal with issues in the some of our Middle east cousins or for that matter our arch rivals in the north treat us. We are a democracy and should be proud to be one.

Let good sense prevail. Let us try and give up the campaign to get what we want by putting a knife to the government. We have lots of people dying everyday in road accidents, out of diseases, out of sheer poverty and that is what needs to be brought to the fore. The rest will take care of themselves. We already have the Vigilance Commission We have the RTI. Both of these have been the brainchild of this very government and they are working so well. Let us raise our daily issues of concern which we see around ourselves to these organisations. Let them do what they have been appointed to do. They need our support. Let us not always try and undermine all the institutions which exist and claim to institute yet another committee with even more overbearing powers.

The government cannot and should not adhere to the demands for the Lokpal so soon. The issue needs further debate amongst the masses. Put up the draft for everybody to see. Let the enlightened community feel wanted. Let them be involved. Let the Parliament do its due. We do not need another committee, we need awareness amongst the masses to use the existing institutions well.

Importance of cross cultural sensitization in International Business

Friday, July 08, 2011 Posted by Pratheesh

Author: Nupur Gupta(2011-2013 batch)

Cross cultural sensitivity is the quality of being aware and accepting of other cultures. This is important because what seems acceptable in some countries can be rude or derogatory in others. A person who is culturally sensitive is aware that there could be differences between their culture and another person’s, and that these differences could affect their relationship and the way they communicate with each other. A culturally sensitive person would understand other countries’ traditions and ways of life, or attempt to learn and apply new understandings.

Cross cultural sensitivity is seen as an essential skill in today's world. Cross cultural awareness is important when dealing in international relations or trade. It can mean the difference between a brand succeeding or failing in international market. Some cross cultural barriers are body language, etiquette, establishing trust, religious beliefs and social habits.

The success or failure of a company, venture, merger or acquisition essentially depends upon people. If these people are not cross-culturally aware then misunderstandings, offence and a breakdown in communication can occur. The need for greater cross-cultural awareness is heightened in our global economies. Cross-cultural differences can lead to cross cultural blunders. Having a poor understanding of the influence of cross cultural differences in areas such as management, PR, advertising and negotiations can eventually lead to blunders that can have damaging consequences.

A company having understanding of cultures in other countries can manipulate marketing strategies accordingly and use them effectively. For example- the main slogan of coke is open happiness. But happiness is defined differently in different cultures. So it targets that and has different types of advertisements for different countries/cultures

Examples showing the importance of Cross Cultural Sensitivity and awareness are:

An American Company that manufactures golf balls packaged the balls in packs of four. They were successful and began selling internationally. However they were not so successful in Japan, where the number four holds the meaning of death.

When a soft drink was introduced into Arab countries, the Arabs didn’t buy it because the label had six-pointed stars on it and they interpreted it as pro-Israeli. When they printed another label in ten languages, the Arabs wouldn’t buy again because one of them was Hebrew.

Recognising the importance of cross cultural sensitization will help the company to understand the needs, preferences of customer for a product. A company won’t sell a product that would not be accepted by the people on cultural grounds. For e.g.-. if a package food company tries to sell beef in India, it might not be as successful as expected because cow is considered the sacred animal to Indians.

Communicating and working across cultures often presents huge risks for international businesses. Understanding culture of other country can help prevent wasted time, lost revenue and damaging misunderstandings which occur as a result of a lack of knowledge and understanding of the target culture. Understanding how people think and why they behave the way they do will help employees work more effectively, which in turn, will give the organisation a competitive edge over other organisations who lack this intercultural competence.

Cross culture sensitivity helps the company to understand the implications of cultural difference on business, understand how they are perceived by their international counterparts, communicate effectively across cultures and build successful cross cultural relationships.

We can impart the idea of cross cultural sensitivity to the employees by cross culture awareness training. This training offers participants with two types of training- One looks at a specific country or culture and how to do business with them. Cultural awareness training can make an important impact on any business or organisation wanting to maximize their potential internationally. With staff that can deal sensitively and effectively with clients, customers and colleagues from other cultures a business becomes more competitive and more profitable.

Thus, the idea of cross cultural sensitivity is inevitable in international business. For a company to be successful in international business, it should help the employees to be culturally sensitive. If different cultures are accepted by people of different parts of the world, then it leads to successful and profitable venture.

The Business of Business is Business

Friday, July 08, 2011 Posted by Pratheesh

Author: Ratin Duggal (2011-2013 batch)

When I hear social activists and NGO workers shout slogans and hog media attention to get corporate honchos to participate in CSR activities it makes me feel amused.

I understand that we all should give back to society once we reach a level where we can make a difference, but is it our duty? Is it the duty of corporate bigwigs to organise CSR activities, just to get these social activists off their back and the government from imposing taxes?

Charity as defined by the Oxford dictionary is “generous actions or donations to aid the poor, ill, or helpless”.

The key word here is generous. I would also like to mention here that an act can be generous only if it has the right intentions and starts off as a selfless act.

Many Businessmen feel pushed into making charities and indulging in CSR initiatives. The reason business exists is because the proprietors want to make money. It can be for many other reasons too, but certainly not to give away your money. Acts of generosity should only be invoked by something inside and not something external.

The Business of Business is Business. Business exists only so that it can generate more business. The hunger can never quite be satiated, but is it a sin not to be satisfied?

I agree that there are many scrupulous practices out there which show businesses as selfish operations with no concern for gullible customers. The customers too are very shrewd and if they are never questioned on their morality, then why are businesses?

It is an unsaid truth that most businesses run for profits alone and the brand building around it is to protect the customer from getting hurt by the true intentions of a business.

Yes, the corporates owe society but no more than society owes them. They create job opportunities, promote development and invoke aspirations in the public.

Society and businesses exist together because they need each other and not because they want to. So yes, there is no harm in pushing businesses to help in the betterment of society by giving aid, but it also isn’t wrong when businesses retaliate and refuse to give up their hard earned incomes.

The business of business is business and not charity, but to get businesses to contribute is society’s business.

IIFT shines at the Nissan Student Brand Manager Program

Thursday, July 07, 2011 Posted by Bhushan Bapat

Two students from the Indian Institute of Foreign Trade (IIFT) have been selected for the National Finals of Nissan Student Brand Manager (NSBM) program to be held at Mumbai next month. The final round of selection for North Zone was held at the IIFT campus with the jury consisting of eminent personalities from the Advertising and the Automobile fields such as Mr. Prahlad Kakkar, Ad Guru, Genesis Films, Mr. Harish Bijoor, CEO of Harish Bijoor Consults Inc, Mr. Hormazd Sorabjee, Editor of Autocar India Magazine.
Expressed Mr KT Chacko, Director, IIFT, “IIFT congratulates the winners and wishes them all the success in their endeavors. IIFT is glad to provide this platform for the selection and enable its own and other students to come up with effective and novel marketing ideas."

The other finalists include students from the Management Development Institute (MDI), Gurgaon, Xavier Institute of Management, Bhubaneswar (XIMB) and IBS, Dehradun.
Said Rathin Rawal, one of the finalists from IIFT, batch 2010 – 12 "I am thrilled. Having worked in the automobile sector, this event naturally generated interest in me. Presenting my ideas before stalwarts like Prahlad Kakkar and the possible opportunity of executing them in real life kept me motivated. The fact that it was held on my home turf - IIFT has been an added advantage."
This is the second year of the initiative by Nissan and this program invited applications from 150 colleges spanning across 15 cities in India. The company aims to target 1,200 entries for appointing 20 NSBM?s and the tenure of the program will be for a period of a six months starting from July to Dec’2011.
NSBM program is aimed at presenting a unique challenge to the students to create a niche for them and raise the standards of excellence for their future. The participants will get an opportunity to channelize their creative minds.
The 20-selected Student Brand Managers from across India are planned to play a key role in bringing brand Nissan closer to both - the student community and the public in general through innovative marketing initiatives. After undergoing training, the students will work closely with company officials on a variety of initiatives. Also each NSBM can get a “Nissan Micra” based on their requirements which will further help them to understand marketing activities of an automobile brand.

1st day at IIFT

Monday, July 04, 2011 Posted by Pratheesh

Author: Akshay Gupta (2011-2013 batch)

Here came 1st July 2011, my 1st day at IIFT, Delhi. With great expectations and hopes in my mind and with enormous energy I entered the campus of IIFT, Delhi the “IIFT Bhawan” located in the greens of the Aravallis.

The moment I entered the place I fell in love with this place all over again.. No this by no means is my second stint at IIFT..:), but because it reminded me of my school life.. I am not getting emotional by any chance, but I say so as it reminded of the greens of the Aravallis as it’s just a stones throw away distance from IIFT.

The day as it should start in any Indian B-School with the lightning of the knowledge lamp and an address by the honorable director of the institute, followed by load of people from the program director to the faculty, the students body president and so on.. Every minute that was passing by was making us realize the kind of effort and focus this course required from each one of us and it started to give me the feel of being an IIFTian and yes I felt it.. I am an IIFT 2011-13 batch student..!!!

It was on the first day that I got a chance to interact with each and every one of my batch mates, I found a lot many people who from the first look seemed to be fun loving and as cheerful and on the other hand there were few who from there first look had started to scare the hell out of me.. and these people were those extremely serious kind of people.. with loads of knowledge on their head and who made me realize on the very instance about where I am and what I have for competition…:(.

The highlight of the day started at 6.00Pm when the 2010-12 batch seniors started to pour into the auditorium. These were those guys who had been with us all throughout the GDPI and the selection process, hats off to these guys… I knew at the back of my mind that now the real “Fun” is going to start.. yes this was the IIFT flagship PDP sessions, the sessions which would give me a hang of the “B-School culture”, the culture of sleepless nights, of working in groups, the feeling of “loving” your blazers and tie at 45 *Celsius temp.. and it was indeed as I had expected..:( .

The first day gave me a hang of what I will be experiencing in these 2 years of my life. The rocked totally, it drained all the energy out of me that I had been saving for so long.. But, still I was liking.. As that’s the way it happens at IIFT.. Go IIFT go….!!!

Los Conquistadores : 2009-2011 Batch

Sunday, June 12, 2011 Posted by Pratheesh

They have not only bagged enviable profiles, lived their lives joyfully here but also stood out warriors when the time came to test their managerial acumen, the IIFT batch of 2009-2011 have mercilessly conquered the B-school competitions. They excelled in competitions focusing on Marketing, Finance, Strategy, Consulting, Quizzes, B-plans, Operations or a combination of them! Grabbed the first position at The Mahindra War Room 2010, the biggest B-school competition in India, were the runners up in Reckitt Benckiser case study held at FMS, winners of Masuk Prasar held at IIFT in association with Tata Motors, the list goes on and on.

To have a glimpse of some of the major achievements of the batch, please click on the following link:

You people will definitely be an inspiration for 2010-2012 batch and many more batches to come. Kudos to you and all the very best for the future!

IIFT to Launch Foreign Trade Institute in Kampala

Wednesday, June 01, 2011 Posted by Bhushan Bapat

In one of the first forays by a government institute into the multi-billion dollar foreign education market,the Indian Institute of Foreign Trade (IIFT) will set up its first overseas campus in Kampala,Uganda.The business education and foreign trade institute will partner with Uganda Management Institute to set up the India-Africa Institute of Foreign Trade (IAIFT).It will be one of the 19 educational institutions that India will help establish in Africa following the 2008 India-Africa Forum Summit.Africa needs a lot of capacity building,especially for managing foreign trade, said KT Chacko,Director IIFT.The Indian institute will provide faculty and will train local teaching staff as a new campus is built by the Ugandan government.Short-term courses and training classes will begin by November this year.Pune University was the first government-run educational institute to set up an international campus,in the United Arab Emirates.However,private-sector players such as Manipal Group have set up a number of foreign campuses across locations such as Dubai,the Caribbean and in Kuala Lumpur over the last two decades.International ventures together contribute almost 60% to the total revenue, said Anand Sudarshan,CEO,Manipal.We are looking to expand in Africa but have not finalised on a location or a partner, he added.Manipal Educations revenue is expected to be $250 million in the coming fiscal.Even private vocational and skills training enterprises are eyeing the global education market.In February this year,Global Talent Track (GTT),which makes students corporateready through additional career-focused training,launched a training centre in Shanghai.The Intel Capital and Helion Venture funded company,which was set up in 2008,has centres in Malaysia as well.

PS: The article was published in TOI. dated 31/05/2011 by RADHIKA P NAIR, BANGALORE 

Here is the Link http://lite.epaper.timesofindia.com/getpage.aspx?articles=yes&pageid=7&max=true&articleid=Ar00702&sectid=5edid=&edlabel=ETBG&mydateHid=31-05-2011&pubname=Economic+Times+-+Bangalore+-+Corporate&title=IIFT+to+Launch+Foreign+Trade+Institute+in+Kampala&edname=&publabel=ET, it opens when u r logged in the e-paper.