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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 universities 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. ISEP oversees the application process to colleges abroad and is responsible for establishing new tie-ups. The committee also collaborates with banks and travel agencies to procure flight tickets, Eurail passes, travel cards, insurance etc. for these students.

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. Sports events, Regional movie shows, Dandiya nights and Ethnic dinners that are customary at XLRI specially welcome 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.