Comparing IIFT with Other Top Business Schools in India

The Indian Institute of Foreign Trade (IIFT) is recognized as one of India's premier business schools, particularly renowned for its International Business specialization. With a rich history spanning 53 years, IIFT has established itself as a formidable institution, often sought after by aspirants aiming for a career in trade and commerce. This article delves into the strengths and challenges of IIFT, comparing it with other top B-schools in India, including IIMs, FMS, SPJIMR, and MDI.

About IIFT

Founded in 1963 by the Government of India, IIFT was established to professionalize foreign trade management and enhance exports through the development of human resources. As a specialized management institute, IIFT offers an MBA-IB International Business program, making it one of the few institutions in the top-10 B-schools in India to offer this course. IIFT is particularly revered for its accountability and transparency, qualities that have earned it a strong brand recognition both within and outside the industry, particularly in sectors such as trade.

Provisions and Performance of IIFT

Pros of Admitting to IIFT

Ranking and Recognition: According to the National Institutional Ranking Framework (NIRF) Ranking 2018, IIFT is placed at number 23, reflecting its high standing among Indian business schools. The institute's top-tier status is further bolstered by its strong connections with international organizations such as the WTO, OECD, World Trade Centre, and the European Union, which often visit IIFT for recruitment.

Comprehensive Curriculum: IIFT's curriculum is extensive and covers a wide range of subjects, ensuring that students gain a well-rounded education in international business. Additionally, IIFT's emphasis on finance is highlighted by its consistent success in the CFA Equity Research challenge, winning the national title for the past two out of three years.

Placement Opportunities: Given its reputation, IIFT has an impressive track record in placing its students. In the 2015 placements, a significant number of top companies such as Amazon, Flipkart, Snapdeal, PayTM, and Zovi recruited extensively from IIFT. For students interested in the e-commerce sector, IIFT proves to be an ideal choice.

Degree Recognition: Obtaining an MBA degree from IIFT offers global recognition, a key advantage in today's interconnected business world. Unlike some institutions that offer PGDM degrees, an MBA from IIFT is internationally recognized and valued more highly.

Cons of Admitting to IIFT

While IIFT excels in many aspects, there are certain challenges that prospective students should be aware of:

Smaller Campus Size: IIFT's Delhi campus is relatively small, covering only 6.5 acres. Accommodations in the first year are triple-sharing, while they become double-sharing in the second year. Facilities are constrained, which might limit the social and collaborative experiences.

Lack of Consulting Firm Recruitment: Despite its stellar reputation, big consulting firms like McKinsey, BCG, and AT Kearney have not regularly visited IIFT. While IIFT's smaller campus size and limited consulting firm visits are points of concern, other top B-schools in the region also face similar challenges.

Comparison with Other Top Business Schools

When comparing IIFT with other top Indian business schools, several factors come into play. IIMs (Indian Institutes of Management) are often considered the gold standard, with a vast network and immense respect in the global business community. FMS (FMS-DILB), SPJIMR (S P Jain Institute of Management Research), and MDI (Med-educated Delhi Institute) are also highly regarded for their research and academic rigor.

IIMs: IIMs are known for their extensive network, placements, and top-tier faculty. They offer a variety of specialized programs, including PGDM, which can sometimes provide more flexibility than an MBA. While IIFT's specialization in International Business is unique, IIMs offer a broader spectrum of programs, making them suitable for students with diverse interests.

FMS, SPJIMR, and MDI: Each of these institutions has its own strengths. FMS is recognized for its policy and management programs. SPJIMR is known for its research and global partnerships. MDI is known for its research-oriented approach and strong industry connections. While IIFT specializes in International Business, these institutions offer unique value in other domains.

Conclusion

In conclusion, while IIFT is a highly respected institution with a strong focus on international business, it also presents certain challenges. Prospective students should carefully weigh these factors to determine if IIFT is the best fit for their career aspirations. Whether one looks at IIFT, IIMs, FMS, SPJIMR, or MDI, the choice ultimately depends on their specific goals, the opportunities they seek, and the personal preferences of the student.