IIFT summer placement 2016-18: Average stipend goes up to Rs 1.24 lakh

The Indian Institute of Foreign Trade (IIFT) wrapped up it's summer placements with 288 students from MBA (International Business) 2016-18 batch, receiving internship offers from top firms.

According to a statement released by the institute, top companies participating at the summer placements include HUL, Tata Group, ITC, Goldman Sachs, Nestle, Shell, GE, Deloitte, Google, Amazon and Citibank.

The institute noted "a remarkable increase" in the offers by leading recruiters this year.

"The average stipend has been Rs 1.24 lakh as compared to Rs 1.10 lakh last year. Nearly 60 per cent of the batch were offered a six-figure stipend," it stated.

The Tata group, which includes Tata Steel, Tata Motors, Titan, Tata International and TCS, made a total of 16 offers.

Also read: IIFT 2016 exam to be held on 27 November

In January 2016, IIFT made news after four MBA students from the institute were offered Rs 1 crore-plus packages. At Rs 29 lakh per annum, the institute also recorded a 21% rise in domestic package. The average package was Rs 18.01 lakh this year.

The institute's two-year MBA (International Business) is offered at New Delhi and Kolkata. The institute conducts its own entrance test, followed by a personal interview to select students.