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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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:
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 to Indian Institute of Management (IIM) will be given on the basis of CAT 2023 national level examination. Some other institution offer admission on the basis of XAT 2020, CAT, MAT 2023, GMAT 2023, 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:
“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.
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.
Following graph shows salary trend according to job profile-