The distinctive feature of the current pattern of world trade is a continuous expansion in exports of technology-intensive goods and services. This growth is in sharp contrast to the decline in the proportion of trade accounted for by primary commodities and low technology products. India, with its large diversified industrial structure, well equipped research laboratories, scientific & technical manpower and emerging open policy environment, is well-poised to take advantage of this rising global demand for technology intensive goods and services in the WTO regime.
This requires sustained and cohesive efforts on the part of the important stakeholders which include Government, industry, research & development organisations, consultants and academia. The success conditions in technology marketing are substantially more complex compared to those for traditional exports. There has to be a stronger synergy between the country’s intrinsic capability and perceived image of its technological competence to come out with cutting edge technologies in order to remain competitive in global market. Investments to be made upfront for market analysis and appraisal for eventual exploitation of the trade potential are sometimes beyond the capacity of individual firms in India.
With the primary objective of actualising India’s potential in technology trade and addressing some of these institutional complexities, the Indian Institute of Foreign Trade (IIFT) has set up the Centre for International Trade in Technology with financial and technical support from the Department of Scientific and Industrial Research, Government of India.
It is a unique institution of its own type in which roles of active players in international technology trade especially those of Ministry of Commerce & Industry and Ministry of Science and Technology are proposed to be synthesised. It is well recognised that building up of technology trade requires sustained efforts over a period of time before any tangible results could be expected.
IIFT, a Deemed University and an autonomous body under the Ministry of Commerce and Industry, is engaged in offering training and conducting research in various aspects of international trade. The Institute offers a wide variety of executive development programmes to suit the needs of executive at different levels in export organisations. Besides offering consultancy services to export enterprises, the Institute is involved in marketing, functional and policy research.