The Ministry of Commerce and Industry has granted ₹230 crore to establish India’s third branch of the Indian Institute of Foreign Trade (IIFT) on the Kakinada coast in Andhra Pradesh. The IIFT has two branches in Kolkata and Delhi.
Speaking to The Hindu, Prof. Ravindra Saradhi, Head IIFT-Kakinada said; “The Ministry of Commerce and Industry has already sanctioned ₹230 crore for construction of the IIFT-Kakinada campus. At least 25 acres of land has been allocated in the Kakinada Special Economic Zone on the Kakinada coast”.
The campus is approximately half a kilometre from the coast. The IIFT-Kakinada is one of the prestigious institutes granted by the Centre in the Coastal Andhra Pradesh.
In September, the IIFT-Kakinada has launched its first course; a five-year integrated programme in management (Business Analytics and International Business).
“The IIFT-Kakinada temporary campus is now located on the campus of the Jawaharlal Nehru Technological University (JNTU-Kakinada). Except the building facility, the IIFT will have no academic association with the JNTU-K”, said Prof. Ravindra Saradhi. JNTU-K Registrar Prof. L. Sumalatha has said that the building was given to the IIFT-Kakinada to run its temporary campus.
On October 28, Union Finance Minister Nirmala Sitharaman will inaugurate the IIFT-Kakinada temporary campus on the JNTU-K campus.
