Commerce Ministry Eyes New Centre for Negotiation Skills

The Commerce Ministry plans to establish a centre for negotiations, aiding in free trade agreements and business deals. Speaking at the Indian Institute of Foreign Trade, Commerce Secretary Sunil Barthwal emphasized its importance in enhancing student skills. The centre will collaborate with other institutes and industry to refine curricula.

The Commerce Ministry is set to launch a centre for negotiations to bolster skills in areas such as free trade agreements (FTAs) and business deals, according to Commerce Secretary Sunil Barthwal. Speaking at the Indian Institute of Foreign Trade (IIFT), Barthwal highlighted the initiative's role in creating a broader negotiation skill set among students.

'Negotiation skills are increasingly vital,' Barthwal said, pointing out that the centre aims to go beyond just FTA negotiations. 'We need a wider framework that includes mergers, acquisitions, and other business deals,' he added, while also emphasizing the collaboration with sister institutions like the Centre for WTO Studies and the Centre for Trade and Investment Law.

The secretary urged IIFT to improve its ranking, enhance industry interaction, and adapt its curriculum. Highlighting the importance of sectors such as pharmaceuticals, auto, chemicals, textiles, and apparel for boosting exports, Barthwal reaffirmed IIFT's role in shaping the global economy through international business and analytics insights. Meanwhile, IIFT Vice Chancellor Rakesh Mohan Joshi stressed the importance of hard work and modern managerial skills in achieving corporate success.

(With inputs from agencies.)