ONGC staff to undergo MBA course at IIFT

Oil major Oil and Natural Gas Corporation (ONGC) has formalised a pact with the Indian Institute of Foreign Trade (IIFT), under which ONGC employees will undergo the MBA (international business) course at the institute.

Under the Super Unnati Prayas scheme, ONGC will send its employees to IIFT for a full-time, 18-month MBA programme with specialisation in international business. ONGC will also provide transfers to employees who are based outside Delhi to study as residential students at the institute.

The objective is to update the knowledge base of ONGC executives. The exercise fits in with ONGC's overall strategy of going global, as major overseas acquisitions are being planned by ONGC Videsh Ltd (OVL).

IIFT conducted special written tests for ONGC executives at five centres across India. It received 340 applications, of which 80 were called for group discussions and interview. Finally, 20 employees have been shortlisted for the course.

The selected employees were expected to have a minimum of 10 years of experience. The course itself was tailored according to the needs of ONGC. While elementary concepts of management have been drooped from the course, several new subjects have been introduced.

International trade logistics, World Trade Organisation (WTO) and WTO-related issues, international trade policy, managing global sourcing, international business strategy, norms and ethics are part of the course. International contract management and negotiations are new additions.

Subir Raha, chairman and managing director, ONGC, said that the course would be of great value to its employees.

He said this would in turn help ONGC make its mark globally.

Prabir Sengupta, Director-General, IIFT, called the exercise as a new industry trend and welcomed the association between IIFT and ONGC. He added that with the institute's vast knowledge resources and competent faculty, ONGC executives would be provided with an in-depth understanding of global business.