IIFT to set up institute in Africa

Kolkata: The Indian Institute of Foreign Trade (IIFT) will soon have its foreign counterpart with an “IIFT type institute” coming up in one of the “less developed nations” in Africa, Mr K.T. Chacko, Director, IIFT, said here on Wednesday.

The announcement regarding the location of the institute and other details will be made by the Prime Minister, Dr Manmohan Singh, within the coming months, he added.

Mr Chacko was speaking on the sidelines of the National Trade and Logistics Symposium organised by the IIFT here on Wednesday.

Refusing to call it the IIFT's African campus, the director said that according to the prior commitments made by the Prime Minister an “IIFT type institute” will come up in Africa. The African institute will help in developing the managerial capabilities and knowledge base in the continent.

The decision has been taken keeping in mind Africa's immense growth potential and trade benefits in the coming years.

Initially the Indian government will take an active part in setting up the institute and providing infrastructure facilities such as hostel and library. Faculty will also be provided by the IIFT.

“After the initial years, say around five to 10 years, we will hand over the management and running of the institute to the respective government in the country,” Mr Chacko said.

student intake

Mr Chacko added that the IIFT was planning to take in around 200 students for its Kolkata campus. This will be more than the 180 seats that it has in its Delhi one.

At present, IIFT's Kolkata campus has a capacity of 60 students and operates from rented premises in Sector V in Salt Lake, in North 24 Parganas. The institute has been allotted a 10 acre plot of land, seven acres initially and three later, off Eastern Metropolitan Bypass in Kolkata in 2006. Documentation and obtaining clearances had delayed the setting up of the new campus.

The institute expects to start construction work on its Rs 100-crore second campus within the next month. Ramky Infrastructure will carry out construction work on behalf of the institute.