Foreign Trade Courses in India

Foreign Trade Courses in India are also referred as Import Export Courses in India. Foreign Trade or International Trade is the export of all goods and services to foreign countries and the import of all goods and services to the home country. In this manner, it becomes an extension of the production, exchange, and consumption. Basically, it is the exchange of goods and services between countries. The products used for Foreign Trading are very similar to other products being produced around the world. As such, these products are referred as ‘Commodities’. When trading of Commodities occurs it is known as Commodity Trading. In this process, commodities are often pooled together in one mass market and sold, thereby linking the producers of the commodities effectively with their commercial consumers. Commodity Trading mainly takes place in the commodity markets where raw or primary products are usually exchanged. The most common commodities often sold in foreign trade are Oil and Grain. Foreign Trade is regulated by associations or ministries of the government of the respective countries. Foreign Trade in India is administered by - The Directorate General of Foreign Trade (DGFT). It is an agency of the Ministry of Commerce and Industry of the Government of India and it administers laws regarding foreign trade and foreign investment in India. The regulation of International Trade is done through the World Trade Organization at the global level.

Foreign Trade is important because various countries of the world are not able to produce all the products required by them because of various limitations. Example if Oil is found in abundance in Gulf region, it may not be found at all in U.S.A. or may be available in less abundance. In this way through exchange of products the world is able to not only meet its need but also profit from it as well. Foreign Trade makes certain countries not only specialists in certain products but indirectly it is benefiting the economy. Foreign Trade specialist is known as ‘Foreign Trade Expert’. Foreign Trade Expert is responsible for providing guidance and assistance to businesses involved in export and import of goods and services. They are typically involved in development and analysis of international trade issues and policies, which help firms, engage in international marketing or perform international market research leading to identification of opportunities in foreign markets and designing strategies to enter different markets.

Some of its specialized fields are -

• Trade Policy.
• Marketing Communication.
• Commodities Operations.
• Market Data.
• Product Application.
• WTO Issues.

Content of Import Export Courses in India

The study of this field includes all or few of these –

• Foreign Exchange Management.
• International Marketing.
• Export and Import Trade Procedures.
• Foreign Language.

Objectives

• To develop an international networked competitive business and research for individuals, corporate, government and society.
• To globally strengthen, sustain and professionalise business knowledge through creative research, learning and teaching.
• Mutually beneficial information exchange with organisations, institutions and universities in the country as well as internationally.

Educational Qualifications

Foreign Trade programmes at graduate and postgraduate level are offered by various institutes in India. International Businesses and Foreign Trade courses are mostly available at post graduate level, however, there are some course which are offered at Undergraduate level, like BIBF - Bachelor of International Business and Finance offered by Jamia Milia University. For undergraduate courses, the eligibility is 10+2 with 50% marks and for Masters in International Business and foreign trade, the candidate should be at least a graduate preferably in commerce. Students are selected through all India entrance examination or by institutes own entrance test. The test is followed by group discussion and personal interview. To be an Export and Import Professional, a candidate needs to have a master’s degree in international affairs (The Master of International Affairs is a Professional Master's degree), economics or public policy and MBAs with first class percentage

Few Foreign Trade Courses in India

M.B.A (IB) – International Business.

EPGDIB - Executive Post Graduate Diploma in International Business.

EPGDIM - Executive Post Graduate Diploma In Industrial Marketing.

EPGDCFM - Executive Post Graduate Diploma in Capital And Financial Markets.

PGDIBYM - Post Graduate Diploma in International Business for Young Managers.

ADIB - Advanced Diploma in International Business.

Foreign Trade College in India

• Indian Institute of Foreign Trade, New Delhi.
• National Institute of Export Management, Chennai.
• Indian Institute of Materials Management, Navi Mumbai.
• Indian Institute of International Business, Anna Nagar East, Chennai.
• Indian Institute of Commerce and Trade, Lucknow.
• Symbiosis Institute of International Business, Pune.

Personal Attributes

Above all the personality traits, interest in finance and economy is must. If you love the work you are doing, you will progress all the way.

An aspiring candidate should always possess the latest information concerning foreign market trends since clients and businesses depend on this knowledge when making decisions concerning business opportunities or investments in another country. Experts must always be familiar and updated with the trade laws of the countries they are planning to explore.

One should be able to handle pressure, deadlines and have excellent communication skills in addition to leadership skills.

Remuneration – Depending on one’s qualification and experience, one can expect to be paid well. As a trainee, one can start with a salary of Rs. 8000-Rs. 10000. One can command a higher salary as the experiences raises. Generally MNCs and private companies pay higher.

Job Perspectives

Globalization of Indian economy has attracted various MNCs to India and vice versa. This has resulted in enormous scope for foreign trade professional. Therefore, education in this field holds an important place as there is a constant need for skilled personnel in this career path. One can also launch his / her own export units with gain in experience. For those desirous of securing foreign trade jobs in a government setup, there are enormous employment opportunities in regulatory bodies like the STC (State Trading Corporation) and the MMTC (Metals and Minerals Trading Corporation). An MBA with an international emphasis coupled with cultural and linguistic knowledge of other countries are at more advantage than others. This is because exposure in different countries, cultures and industries are important factors of the job. The requirement for foreign trade experts exists at the advisory levels in public sector undertakings with foreign trade operations, export promotion councils etc.

Some Job Types

• Foreign Trade Analyst.
• Export Manager.
• Foreign Trade and Purchasing Specialist.
• International Foreign Trade Managers.
• Business Development Manager.
• Relationship Manager.
• Trade Compliance & Logistics Manager.
• Assistant Professor.

Some Employment Areas

• Buying Houses.
• Export Units.
• International Departments of Multinational Companies.
• International Trade Regulatory Bodies.
• Foreign Trade Operations.
• Export Promotion Councils.