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IIFT 2024: There have been a few changes in the admission process to IIFT. According to the notification from the official website, the IIFT exams are to be replaced with CAT for the recruitment of suitable graduates to their MBA program. Let us learn more about this institution and the courses offered by it along with the changes they made in the admission process in recent years.
Indian Institute of Foreign Trade (IIFT)
The Indian Institute of Foreign Trade (IIFT), the top “B-School” in the nation, was founded in 1963 by the Indian Ministry of Commerce and Industry to support skill development for the country’s foreign trade industry. In 2002, the Institute was given “Deemed to be University” status. Both in 2005 and 2015, the National Assessment and Accreditation Council (NAAC) certified IIFT as a Grade ‘A’ Institution. In 2021, the Institute received the esteemed AACSB Accreditation. With this achievement, the IIFT joins the top 900+ business schools worldwide that hold this certification. IIFT is a deemed university that is also strongly connected with the Ministry of Commerce. Prof. Satinder Bhatia is the Director and Vice Chancellor of IIFT. She is a professor of finance and the head of the international projects division. The Chairman of the Indian Institute of Foreign Trade is the Secretary of the Ministry of Commerce, Government of India. IIFT provides a two-year full-time MBA (IB) curriculum that leads to high placements.
Courses Offered by IIFT
The courses to which the admissions are done by CAT exam are MBA (International Business) and MBA (Business Analytics). Let us learn more about these courses.
MBA (International Business)
The MBA in International Business serves as a fundamental course for creating a skilled cadre of business executives to fulfil the nation’s expanding demand for professionals trained in international management. The MBA (IB) is a six-trimester general management degree with an emphasis on international business. The curriculum seeks to provide thorough coverage by encompassing all significant fields and disciplines pertinent to transnational business operations. The MBA (IB) curriculum compares favorably to the curricula of some of the top international business schools in the world.
MBA (Business Analytics)
MBA (Business Analytics) is a six-trimester general management program with a specialization in Business Analytics that is designed to build a competent cadre of business executives to fulfil the country’s growing demand for skilled individuals in the field of Data Analytics. The course structure of this program is structured such that the function of analytics is stressed from the outset. Students will be exposed to things listed below through this curriculum.
- key managerial ideas
- business problems
- the data ecosystem (as well as data management and visualization)
- case studies
- business data-driven case studies
- platforms and software used to find solutions.
The full name of the IIFT is the Indian Institute of Foreign Trade Admission Test. IIFT entrance was the necessary MBA entrance test till 2023 for MBA IB admission in both IIFT campuses. The IIFT MBA (IB) admission exam was held as a computer-based test in a single session. The exam, which had a maximum score of 300 and lasted two hours, was administered by the National Testing Agency (NTA) for the fifth year in a row rather than IIFT as it had been in the past.
However, beginning with the admission year 2024, the Indian Institute of Foreign Trade will rely on CAT exam scores and will no longer hold its own entrance exam, either independently or through NTA. The Institute will consider the CAT 2023 score beginning with the academic year 2024–2025 for admission to IIFT’s two–year MBA (International Business) and MBA (Business Analytics) programs. Candidates will be shortlisted for the second stage of the admission process for MBA (International Business) and MBA (Business Analytics) programs based on their CAT Score and other qualities. For this, they use the methods mentioned below.
- Group Discussion
- Personal Interview
Therefore, all applicants must have a valid CAT 2023 score to be considered for admission to IIFT’s MBA (IB) and MBA (BA) programmes in 2024–26. By the end of September 2023, application forms for IIFT’s MBA (IB) and MBA (BA) 2024–26 programs should be accessible on that institution’s website, www.iift.ac.in.
IIFT 2024: Conclusion
It is a significant step forward in the IIFT admissions process for 2024, and it is good news for CAT applicants because they would not need to take a separate IIFT entrance exam. The Delhi and Kolkata campuses of the Indian Institute of Foreign Trade each enrol more than 700 students. The IIFT has opened its third campus in Kakinada, Andhra Pradesh. The new campus currently provides a five-year IPM program. The IIFT admission process has been delayed by IIFT Admission Tests administered by NTA, and for the past five years, the IIFT exam, which previously took place right after the CAT exam date, has lacked a fixed date. This could be the reason IIFT decided to transition from the IIFT Entrance Exam administered by NTA to the CAT conducted by IIMs.
IIFT aspirants must register for and apply for CAT 2023 since it is the required exam for IIFT Admission 2024. Similar to how they apply for admission to other prestigious non-IIM B-schools, they should submit a separate application for admission to IIFT. The IIFT will begin accepting applications by the end of September 2023.
IIFT 2024: FAQs
- Is it true that the IIFT entrance exam is cancelled from 2023?
Yes. The IIFT uses CAT as the way to gain admission there from the academic year 2023.
- Which institution organises the CAT exam?
- Do IIFT have good placement ratings?
IIFT has a track record of 100% placement with competitive pay packages. The average placement package for the MBA (IB) 2021-23 batch increased by 16% to Rs.29.10 LPA, and the highest domestic income increased by 62% to Rs.75.60 LPA.
- Is IIFT UGC recognised?
- Is IIFT one of the top business Schools in India?
According to the Government of India’s MHRD NIRF Rankings 2023, IIFT is a highly regarded management institute and is ranked number 27 out of the top 125 management institutes in India.