NIFT Act 2006 published in the Gazette of India on 14th July, 2006 confers Statutory Status on the Institute. The Act came into effect from 1st April, 2007. The President of India is the 'Visitor' of the Institute under the Act. The Act empowers the Institute to award Degrees and other distinctions. NIFT is the first institute in India to award its own Degrees in the field of Fashion Education.
The Degrees awarded by the Institute are recognised worldwide. The Institute confers Degrees to the graduates in the Convocation Ceremony marking the occasion.
As leading agents of change, NIFT Alumni are reconfiguring the institute’s constellation of achievements and success stories. The alumni are adding value in different work scenarios, both in India and overseas. About 23050 alumni are working with the industry in key decision making positions and are instrumental in shaping the future of fashion business. Some of them are brands themselves. Others are excelling in the domain of entrepreneurial dynamics. NIFT alumni are also actively taking their knowledge to the grassroot levels, working towards enhancement of the craft pockets of the country. The linkage between Alumni and their alma mater continues. NIFT has always valued this resource and has involved the alumni in the future direction of the institute.