My friend is studying with NMIMS and it's good and easy to get into as well. There are 3 attempts available for NMAT whereas IIFT is a step higher on the difficulty scale. The positive aspect of this is that the crowd at IIFT has intellectuals.

Apart from this, here are some more highlights-

• IIFT is well known as a trade research and consulting institution in India. Its personal brand is now part of the 'top b-schools in India' lists. It has also been ranked in the top 10s.
• Whereas NMIMS is a new school and is a step lower in branding but it's trying its best to catch up.
• The batch size of IIFT is half that of NMIMS. So IIFT becomes for those with decent academic scores, a place of success where they get to be top profiles. In NMIMS it becomes a struggle.
• Students in the Kolkata campus are able to apply to companies visiting IIFT Delhi as well.
• As for the location, Mumbai is a buzzing city and Kolkata is mellowed but dreamy. If you choose to go for NMIMS, then know that it doesn't have a hostel life. Students live on rent near the campus. IIFT Kolkata does have hostels.
• The mess at IIFT Kolkata is pretty decent and the hostel has single sharing accommodation which is rare for most B-schools. All in all, IIFT has a better hostel life than NMIMS.

Lastly, you'll have to pay more at both colleges but IIFT would be INR 3-4 lakhs cheaper than NMIMS and IIFT has a stupendous alumni network in the area of international trade. You may now decide based on your future goals.