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Indian Institute of Foreign Trade sets up incubation cell

Inaugurated in Delhi, the developmental activities of the cell will be extended to Himachal Pradesh and to the North Eastern zone

education Updated: Jul 20, 2016 19:11 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
IIFT,foreign trade,incubation cell
The incubation cell will give business opportunities to students who want to join the MSME sector.(Istock)

The Indian Institute of Foreign Trade (IIFT), New Delhi, has set up an incubation cell called KITTES (Knowledge for Innovation in Trade and Technology for Entrepreneurial Start-Ups).

The cell has been set up with active help of Mitsubishi Corporation India Pvt Ltd (MCI) and Metal One Corporation India Pvt Ltd (MOI). Kalraj Mishra, minister for micro, small and medium enterprises, was invited as the chief guest to inaugurate the cell. Masakazu Sakakida, CMD, MCI, and Yoshihija Fujiwara, CMD, MOI, were also present. The function was presided over by Dr Surajit Mitra, director and VC, IIFT. The KITTES website was also launched on the occasion. Mishra highlighted the importance of contribution of MSMEs towards the country’s growth, immense business opportunities available for MSMEs, and the challenges faced by them in starting their ventures. He insisted on the role of incubation cell at IIFT to impart training to MSME units towards developing zero defect products from this segment.

“KITTES will be unique as we bring collective innovation and international experience to the table”, said Dr Mitra. He emphasised the strong role of embassies across various export markets and export promotion councils across various MSME predominant sectors to enhance two-way efficient trade through strong knowledge support imparted by the centre. “Although the initiative is being inaugurated in Delhi but the developmental activities of this centre will be extended to the state of Himachal through our newly set up regional centre for MSME at Shimla and to the North Eastern zone through IIFT Kolkata centre,” said Dr K Rangarajan, head, Centre for MSME Studies and head IIFT-Kolkata Centre.

First Published: Jul 20, 2016 19:11 IST