IIFTians Blog: Truly a Global One

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My 2 cents on union budget

Author of the Post: Kumar Raunak
Batch : 2010-12


It has to be a magnum opus budget
We need some big ticket reforms
Divest hindustan machine tools, bsnl,mtnl, RBI,IIFT,clearing corporation of India and use the proceed to bring down fiscal deficit to 3% and revenue deficit to nil.
Initiate a system of direct cash transfer for cabinet ministers so that they do not have to wring their heads to siphon off money(read 2g scam)
Bring down the transaction cost of stashing away your money abroad by actually allowing banks like swiss bank to open a dedicated branch for this in India itself.
Along with 100%FDI in multi brand retail allow 100% FDI in politics so that eminent personalities like sarah palin, berlusconi, etc can launch their own parties and bring about a tectonic shift on the indian political landscape.
Single window clearance for all turnkey infrastructural projects like mayawati's statue.
Signing of free trade agreements with chad,mali, niger, afghanistan etc because in this case as is taught in the IE class the dead weight loss to the society would be less.

Happy Women's Day @ IIFT

Author of the post: Jasmeet Kaur Grover
MBA(IB) 2010-12

We all know the importance of the various women in our lives but yet we generally forget to appreciate them for the same. Koshish, The Social Awareness Club at IIFT gave an opportunity to all the guys of the 2010-2012 batch to convey this appreciation to the girls of the batch in the form of special write-ups for each girl on International Women’s Day. These write-ups along with flowers were left at their doorsteps to surprise them in the morning. All female faculty members were also given a card and flowers to appreciate their hard work and dedication.
This initiative of Koshish brought a smile on the face of these wonderful women, who found this to be a very thoughtful gesture.

IIFT cultivates the future minds for Carbon Consulting in the Green Conclave 2011

Author of the post: Suneet Choudhury
MBA(IB)2010-12

IIFTians win the competition WINBIZ 2011 at GIM

Vaibhav Srivastav and Aman Oberoi make IIFT proud at 'DARE' 2011

The following article was published in Business Standard :

The team from IIFT, India’s premier B-school, won the first prize at 'DARE' - an International B-School marketing Quiz hosted by bollywood superstar Shah Rukh Khan. The winning team comprised of two prodigiously talented students Vaibhav Srivastav and Aman Oberoi who defeated participants from over 190 colleges across the country.

DARE’11, organized by IIPM is more than just another quiz as it is a perfect synergy of an international meeting ground for the very best of the planet’s business and management students to meet, ideate & vie for honors while challenging their marketing wits and acumen.

This intelligence combat was carried on through Zonal, National and International levels where top national and international teams from colleges like London Business School, Duke University and Booth University, California had to compete in the Pre- Quarter Final, Quarter Final & Semi Final at the IIPM International Campus in New Delhi. From which six finalists comprising of four National and two International teams made it to the Grand Final held on 23rd February 2011 at “Parkland Exotica” in New Delhi. Winners Vaibhav Srivastav and Aman Oberoi, who did wonders at the Quizzing Arena of IIPM, are first year IIFT Delhi students. The students were awarded with a cash Prize of Rs 2.5 lakhs, two Yamaha Motorcycles, two canon Printers, two Videocon LED televisions and two Nokia phones.

“It is a proud moment for IIFT to receive such recognition and I congratulate both the winners. This is just the beginning of their successful journey and I wish them greater success ahead. IIFT promises to provide all the support required to their students for setting another series of milestones,” said K. T. Chacko, Director IIFT on the team winning the DARE’11 Quiz award.

A totally different experience!!!

Author of the post: Rohit Mittal
MBA(IB)2010-12

When a very dear friend of mine told me that he has started a new manpower training & staffing outfit in a city on Haryana-Rajasthan border and invited me to conduct interviews at the job fair they were organising, I was not very excited. One reason for was the hectic schedule I have now a days, with all the classes, preparations for international round of Al Gore Sustainable Technology Venture Competition & other projects. Others were the poor road conditions, cold & patchy connectivity.

However on Friday, when last class got over, I thought about it and decided, What the heck! lets do it. So I quickly packed my bag and hopped on a bus to the place. The journey was uneventful and quiet. I reached around 1 AM and almost immediately went to sleep. After getting ready, we reached the venue of job fair which was a government degree college. A lot of people had come to the fair because of some really wonderful advertising.

After gathering understanding of the complete process, I got the brief about the qualities to look for in the candidates and got down to the work. We were basically doing the preliminary interviews for retail & call center companies who had come for recruitment.

Interviews were an eye opener to say the least. It also helped in breaking a lot of myths about shining India and quality of life for Indians. Although people had graduation degrees, still they found it difficult to express themselves well. Lot of the candidates had pursued year long computer diplomas from private institutes in the hope of improving their lives but majority were duped and were given sub standard education. Some people wrote English as a language in their CVs but were unable to frame even 5 simple, correct sentences.

Though I also found some gems who were working hard to gain knowledge and improve their status in society. One fellow had lost his father long back and had worked alongside education to support his family from a young age. Another was a topper and was also trying to complete his studies. In fact, this quality was displayed by most of the candidates who were willing to work hard to achieve something.

This kind of experience was very new for the people as they had not had any such exposure earlier. Thus they had talent & the determination but were raw. This is what my friend’s outfit is working: to bridge the gap between the available talent & needs of the industry. This is something unique which will provide people with the opportunity they have been looking for and help them improve the quality of their life.

For me, as I said, this was an eye opening experience and gave me a lot of insights into the mind of “still developing” India. I gained a lot personally by interacting with so many people which is going to be useful for me during MBA and beyond.


P.S. Needless to say, hospitality was superb and I really had a great time at the friend’s place

Gurcharan Das @IIFT in NDTV Mega Show ‘B-School Budget’

The Union Finance Budget 2011 is presently one of the most talked about issues with India growing at phenomenal rates accompanied with the evils of inflation and high fiscal deficit. To discuss, suggest and improve upon the measures that can be taken by the finance minister, some of India’s brightest minds from the top B-Schools and the stalwarts from the corporate and economy descended on the campus of the Indian Institute of Foreign Trade, Delhi, India’s premier B-School in International Business in a B-School Budget show organized in association with NDTV. The Guests included Mr. Gurcharan Das, noted author, economist and a public intellectual and Mr. Sunil Godhwani, Chairman and MD, Religare Enterprises Ltd, who aired their opinions about the Budget.

NDTV, in its special series of shows on the Budget, came down to the IIFT campus to conduct the B-school Budget show. Manisha Natarajan and Siddharth Patankar were the anchors for the show and students from IIFT, MDI Gurgaon and other premier B-schools participated in an interactive discussion on what to expect from the budget. The show was broadcasted on both NDTV Profit and NDTV 24x7 on the weekend before the budget.

The first agenda to set the ball rolling was black money and corruption, one of the hot political potatoes in current times. They deliberated on the huge impact that it would have if corruption were to be completely wiped off the economy. In response to one of the questions asked on the corruption front, the speakers held the opinion that corruption was indeed a huge menace. “India grows when the government sleeps at night”, quoted Mr Gurcharan Das, depicting the potential that the parallel economy possesses.

The discussion then shifted to the other big concerns facing the economy i.e. inflation and fiscal deficit. The views of the student community to this end were amply reciprocated by the guest speakers who also felt that the measures were long overdue to tame the present rates of inflation and improve the efficiency in the distribution of the proposed benefits to the people at the bottom of the pyramid. Measures like UID and direct cash transfers were discussed so as to ensure that the intended benefits reach the target population.

Finally, the show came to an end with a wrap-up on what the students and the speakers felt was the one biggest expectation from Pranab Babu. While one of the students outlined his top priority to be the creation of ‘infrastructure of opportunity’ involving the 3E’s of education, employment and employability, another wished for better reforms for the real estate sector. Some wished for a reformist budget rather than a political budget while some wished for a more encouraging environment for retail and FDI investments.

All in all, the show was a grand success and both IIFT Delhi and NDTV look forward to many more such positive associations in the future.

You can watch the video here