Union Commerce and Industry Minister Piyush Goyal on Monday exhorted graduates of the Indian Institute of Foreign Trade (IIFT) to stay informed about new trade agreements, and use these as avenues to create fresh business opportunities and access new markets.

In his virtual address during the 57th IIFT Convocation here, the minister noted that this knowledge would contribute to the ambitious target of a ‘Viksit Bharat,’ including the goal of reaching $2 trillion in trade. Highlighting sectors such as telecom, semiconductors, deep-sea exploration, and space technology, he urged them to contribute to these fields with a forward-thinking mindset.

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Goyal urged the graduates to embrace their roles as socially responsible professionals. He emphasised the critical importance of ethical business practices, underscoring how today’s organisations are expected to uphold Corporate Social Responsibility (CSR) principles.

The minister advised the young graduates to chart their paths to success through innovation, especially by engaging with emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML).

He complimented the Chancellor, Vice Chancellor, faculty and the students in making IIFT a centre for academic excellence. He also mentioned about the IIFT’s first overseas Campus in Dubai, thus thereby spreading its wings in the international business community.

During the convocation, degrees were conferred to more than 650 students from various programmes, including the flagship MBA (International Business), MA (Economics) with specialisation in International Trade and Finance, Ph.D. in Management and Economics, and Executive Programmes, underscoring IIFT’s commitment to train students in the fields of International Business, Economics and Trade.

Sunil Barthwal, Chancellor, IIFT and Secretary, Department of Commerce, Central Government, commended the graduating students for their determination and hard work in reaching this pivotal stage in their lives and encouraged them to apply their learnings from IIFT in their professional careers.

Barthwal highlighted IIFT’s recent achievements in research and consulting, noting that the institution has developed substantial expertise in analysing international business environments and creating strategic solutions for corporates.

He lauded IIFT’s stellar performance in the National Institutional Ranking Framework (NIRF) by the Ministry of Education, where it ranks among the top 15 B-schools in India.

Reflecting on the need for skilled professionals in international trade, Barthwal shared details about the newly established Centre for International Negotiations at IIFT, which will provide a platform for students, government officials, and corporate negotiators to learn from each other’s expertise.

He also discussed the future initiatives and the establishment of IIFT Case Centre. He hoped that the Case Centre would enhance the learning experience at IIFT by developing high-quality, India-focused business cases, and enriching students’ exposure to real-world problem-solving within the context of global business challenges.

The Chief Guest, Managing Director of Gujarat Co-operative Milk Marketing Federation Ltd, (Amul), Dr. Jayen Mehta, highlighted the remarkable achievements of Indian companies in reaching new global markets and underscored how international business expertise could position students to be at the forefront of India’s expanding global footprint.

He shared insights into how Amul and other leading Indian brands are strengthening India’s presence on the world stage, creating opportunities for talented professionals in trade and commerce.