The Indian Institute of Foreign Trade (IIFT) was set up in 1963 by the Government of India as an autonomous organisation to help professionalize the country's International Business by developing human resources; generating, analysing and disseminating data; and conducting research. Today, it is one of the premier Business schools in the country and its flagship programme of two year full time MBA in International Business is considered to be the best for International Business. In 2023, IIFT has also launched a two year full time MBA program in Business Analytics, aligning it closely with the dynamic demands of the industry. It is a deemed university and comes directly under the Ministry of Commerce and Industry, Government of India (GOI). IIFT has, over the years, also undertaken path-breaking research studies with organisations like WTO, World Bank, UNCTAD and the Ministry of Commerce & Industry, Government of India. The Institute has also trained more than 50,000 business professionals across 53 countries in various facets of international business and trade policy via its Management Development Programmes. In 2010 an estimated 85000 candidates took the entrance exam for Full Time MBA (IB) course having 220 seats, making it one of the toughest B-schools to get into in India. The institute is consistently ranked among the top 10 Business Schools in India, in various surveys conducted by independent agencies.