Delhi-based Indian Institute of Foreign Trade (IIFT) recently held its 49th convocation at the B-School campus. Four students received their Ph.D and 314 students received their MBA degree in International Business.

Arvind Panagariya, Vice Chairman of NITI Aayog, was the Chief Guest, and Rajeev Kher, Commerce Secretary, and Chairman, IIFT, presided over the function.

Speaking on the occasion, Panagariya highlighted how India has not looked back since the opening up of the economy in 1991. He commented on the debate about protectionism versus free trade and pointed out that policies focused on export promotion and free trade led to the emergence of India on the global stage.

Panagariya said that openness in economy and trade was important because it enables a country to do what it does well on a large scale. He also pointed out that there was no substitute for global competition because it brings out the best from a country/enterprise and presents both opportunities and challenges for the corporate sector and for budding managers.

Panagariya advised the students that achieving success can come only through hard work, focus, perseverance, honesty and truthfulness.

Encouraging the students to build on the knowledge and skill gained at IIFT, Commerce Secretary Kher pointed out the necessity to 'learn, unlearn and relearn' in these ever changing times. He highlighted that the new Foreign Trade policy was a small step in laying the roadmap for India's global engagement and that the government had laid emphasis on increasing the share of manufacturing and in facilitating the ease of doing business especially reducing the cost of doing international business.

IIFT's graduating batch saw the fastest 100 per cent placements and a 30 per cent increase in international placements with the highest foreign salary going up to $1,10,000, and highest domestic package of Rs 24 lakh.

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