ISEP is a student body representation of the International Student Exchange Program at XLRI. This functional committee handles the responsibility of managing tie-ups with foreign colleges. At present ISEP has alliances with 16 universities in 10 countries across USA, Europe and Southeast Asia. Students can study a term in these colleges for a period of three months while learning from a different culture and experiencing a plethora of changes. ISEP facilitates the application phase and ensures that academic and administrative approvals are obtained for their nomination process. They also collaborate with banks and travel agencies to procure flight tickets, Eurail passes, travel cards, insurance etc. for these students.

Every year around 60 students opt for the exchange program. During this time, XLRI is home to foreign exchange from these countries who study a term with XLRI students. ISEP is responsible for organizing cultural immersion programs for these students and ensure that their stay in campus is as enjoyable as possible. This year ISEP has been host to 14 exchange students from countries such as UK, France and the Philippines. Sports events, Regional movie shows, Dandiya nights and Ethnic dinners that are customary at XLRI are specially made welcome to foreign exchange students. ISEP assigns buddies for every foreign student and help them to organize into teams for various events that take place on campus.

ISEP also organizes an XL-MUN during ENSEMBLE, the management fest of XLRI. The event sees participation from across the country. Topics discussed range from UN security affairs to the FIFA scandal. The event is judged by eminent personalities from the industry with expertise on these subjects.