Piyush Goyal Asks IIFT to Set Up Scholarships to Ensure that No Student is Left behind for want of Financial Resources

· Goyal Urges Students of IIFT to be part of the Endeavour to take Exports to USD 2 trillion by 2030

· Minister Calls for the Setting Up of an International Campus at GIFT City

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal on 23 August, 2022 asked the management of Indian Institute of Foreign Trade (IIFT) to set up scholarships to ensure that no student who is talented enough and competent enough to pursue studies at IIFT is discouraged from doing so because of the fee structure or living expenses. He added that this would help usher in more diversity to the campus by bringing in students from all backgrounds and all parts of the nation, especially from aspirational districts.

He was attending the 55th Convocation of Indian Institute of Foreign Trade (IIFT) in New Delhi on 23 August, 2022. Congratulating all the students who received their degrees, the Minister appreciated IIFT for being ranked amongst the leading B-schools in India and abroad. He also extended his best wishes to the institute for completing 60 years of service and added that this was a good point to reflect and introspect on the past and future.

The Minister also urged the board of directors of IIFT to consider sanctioning more funds to the students’ councils to make all the campuses of IIFT much more vibrant and updated.

Mr. Goyal asked the management to work on setting up an international institute at GIFT city in Gujarat in partnership with prestigious universities around the world to make our youngsters future ready. He also suggested instituting a dual degree program and student exchange programs. Mr Goyal called upon the alumni association to take this up on a mission mode and use their education and experience to guide the students of the alma mater and thus contribute to nation building.

Highlighting that trade is a crucial lever that will shape India's economic development, Mr. Goyal spoke about the 13 volume Restructuring Dossier for the Department of Commerce that was released today to make the department more relevant to the times. The Minister stressed that India was looking at growth in leaps and bounds and said that we now aspired to take exports from USD 675 Billion to USD 2 trillion by 2030. He urged the students to be a part of this endeavour.

Referring to the 5 vows or paanch pran articulated by the Prime Minister, Shri Narendra Modi, Mr. Goyal said that the next 25 years leading upto the year 2047, when India would celebrate 100 years of independence– the amrit kaal- would truly determine the nation’s future and the fate of its citizens. It will be the collective effort of all of us which will make India a developed nation by 2047, he added.

Alluding to the critical role played by IIFT, Mr. Goyal said that the institute was capable enough to move mountains and added that its students and alumni will have a big role to play in making India a developed nation by 2047.

Observing that no nation could develop without engaging in international trade, the Minister said that countries which went out into the world and competed on equal terms, on price, quality, delivery and service are the nations that have successfully taken prosperity to the day to day life of its citizens.

Speaking of the need to reinvent education, Mr. Goyal mentioned that the New Education Policy was meant to initiate a change of mindset more than a change of curriculum. The Minister added that NEP would help take education to the remotest corners of the country by leveraging digital technology.

Commerce Secretary, BVR Subrahmanyam, who is also the Chancellor of IIFT was also present at the convocation. In his speech he said that India is at the cusp of big change and this will provide all the opportunity to grow and to excel. You will have the responsibility to take the country from 3 trillion dollar economy to 30 trillion dollar economy, he told the students.