Management In Foreign Trade
About Foreign Trade
Foreign Trade also termed as International Trade is the exchange of goods, capital and services across international borders and territories.
Generally, no country can produce all the goods & services that it requires. They have to be depend upon the other countries for importing goods that are unavailable or available in insufficient quantities. Similarly, they can export goods that are excess in quantity in other countries.
In the 21st century, the United States, European Union and China are the 3 largest trending markets in the world.
In most of the countries, foreign trade represents the share of GDP (Gross Domestic Products). In the ancient times the foreign trade is conducted through Uttarapatha, Amber Road, salt road and Silk Road, these are the popular routes for trading between the countries.
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Benefits of Foreign Trade Courses:
- It offers you job opportunities in various areas like banking, trade, commerce, accounts, etc.
- It prepares students for a professional qualification in foreign trade and it provides you a good base in the international business field.
- You can work in export houses to increase the overseas sales, searching new business hubs, etc.
- You can also work as a marketing executive which plans strategies based on marketing research.
Courses & Eligibility
There are several UG and PG courses as well as diploma courses are available in the field of foreign trade. These courses help students to make their concepts clear about the trade business conducted between the countries. Some of the popular courses are mentioned below:
Diploma Courses:
- Diploma in International Trade
- Advanced Diploma in International Business
- Diploma in Foreign Trade Management
- Advance Diploma in Foreign Trade
Eligibility Criteria:
If you are seeking to apply for bachelor courses, you must have completed higher secondary or 12th class (Courses After 12th). For master courses, students should have a bachelor’s degree in the related field. For doctoral courses (M.Phil), candidates must hold a masters degree in the related field.
Admission
Admission to Indian Institute of Management (IIM) will be given on the basis of CAT 2020 national level examination. Some other institution offer admission on the basis of XAT 2020, CAT, MAT 2020, GMAT 2020, etc. examinations.
Apart from entrance test, some institution offers admission on the basis of Aptitude Test, Group Discussion, and personal interviews. Some of the MBA entrance examinations are listed here:
- CAT (Common Admission Test)
- Management Aptitude Test (MAT)
- Xavier Aptitude Test (XAT)
- Graduate Management Admission Test (GMAT)
- Common Management Admission Test
- Indian Institute of Foreign Trade
- CUSAT Common Admission Test
Career in Foreign Trade
“Career opportunities are increasing fast for the Foreign Trade qualified.”
Lots of manufacturing companies, banks, financial institutions and government agencies that trade outside their countries search for candidates qualified in Foreign Trade. There is enormous scope for foreign train qualified in India as well as abroad.
Many companies recruit Foreign Trade professionals and also assign them for international projects. You can also work as a Foreign Trade Manager with the task of analyzing technical data in international business deals and understand international trade policies & agreements.
MBA Foreign Trade: Salary Trends
The average salary of a graduate from an esteemed B-school with a degree of MBA Foreign Trade gets a package of around 6 to 12 lacs. Salary trend basically depends on job profiles one is working on and also on it depends on company too.