IIFT In Kolkata

India's premier international business institute is all set to open in Kolkata.

Kolkata is back on India's trade map "" at least in educational terms. The prestigious Indian Institute of Foreign Trade (IIFT), New Delhi, plans to establish a second branch in Kolkata by the end of this fiscal year.

According to Prabir Sengupta, director, IIFT, the branch could take Rs 10-15 crore to set up, for which the central government shall be giving a grant.

Kolkata, of course, has prided itself for long as a city at the intersection of at least three vibrant cultures, to paraphrase Tagore, and is thus well primed to become an educational hub for globalization "" the defining business issue of the current era.

"Ten years ago," says Sengupta, "an Indian company could not think of competing internationally. Now, an Indian company can't thrive unless it is internationally competitive."

International business education, meanwhile, has moved far beyond basic export and import management. Students could thus look forward to courses in Retail Distribution Management, Retail Banking, Six Sigma and IT Project Management, amongst others.

IIFT will offer specialized electives for such sectors as agriculture, textile and automobiles as well, while equipping students with education on derivatives, risk management and commodity futures.

International trade policy issues are another area of academic focus for IIFT, which has recently set up a Centre for WTO Studies and Centre for International Trade in Technology.

The insitute also runs a couple of European Union-supported programmes for Small and Medium Enterprises (SMEs) which conduct training programmes and provide business intelligence services.

For an insitute that is so guarded in its approach to both affiliations and geographical expansion, the opening of a Kolkata branch would be quite a momentous event.

The caution is not without reason, according to Sengupta. That's the nature of quality education "" it just cannot be rushed. "In opening new centres," he says, "one has to account for the right faculty, get the right students and curriculum in place, and then shoulder the responsibility of placements. This is where I don't wish to expand indiscriminately and dilute our brand." And a brand it certainly is.