Have you passed 12th standard? Have you completed Bachelor’s Degree program? Are you interested in pursuing a good Foreign Trade course? If yes, this article will be of help to you. Here, I’ve listed down some of the best Foreign Trade courses available in India.
Foreign Trade generates ample job opportunities in India. Careers belonging to this sector are well rewarding (in terms of salary and job satisfaction).
Though Foreign Trade programs are very popular among Commerce stream students, there’s no entry restriction associated with it! It means that students hailing from any stream (Arts, Commerce or Science) are eligible to pursue foreign trade academic programs!
In India, Foreign Trade courses are available in various formats. Some of the notable course formats are –
- Bachelor’s Degree courses
- Master’s Degree courses
- PG Diploma courses
- PG Certificate courses
- Doctoral programs
Bachelor’s Degree courses can be pursued by candidates who have passed 10+2 in any stream. Such courses are undergraduate level programs. Such programs are usually 3-4 years long.
Candidates who have completed relevant Bachelor’s Degree course are eligible to pursue Master’s Degree courses. Such programs are usually 2 years long.
PG Diploma courses can be pursued by candidates who have completed relevant Bachelor’s Degree course. Such programs are usually 1-2 years long.
PG Certificate courses can be pursued by candidates who have completed relevant Bachelor’s Degree course. Such programs are usually 1 year long.
Candidates who have completed relevant Master’s Degree program are eligible to pursue Doctoral programs such as PhD and M.Phil.
As promised, I’ve listed down best courses from each category. In short, this guide will be helpful to 12th passed students, Graduates as well as Postgraduate candidates. Also check out – Banking courses in India.
Before heading to the meat of the matter – Foreign Trade courses in India – let us check out some basic facts and figures about Foreign Trade.
What’s Foreign Trade? What’s the scope associated with it? What are the future prospects like? What’s the nature of jobs in this sector like? You will find answers to these questions in the next section –
Article Overview and Contents
What is Foreign Trade?
Foreign trade is the exchange of capital, goods, and services across international borders or territories. It is also known by terms such as – International Trade, International Business and Global Trade.
Is the above definition too hard for you? Let me give a simple definition – Foreign Trade is the trade taking place between two countries!
It is a very vast field and consists of aspects such as –
- Foreign Trade Regulations
- Trade Policies
- International Business Laws
Each year, India imports crude oil from other countries. It is a perfect example of foreign trade!
Foreign Trade has been around for quite some time now. Since ancient times, trade relations existed between different countries.
Globalization has opened up markets that were previously closed! This has given a huge boost to international trade.
Technology has played a huge role in the evolution of global trade. It has simplified global trade.
Importance of Foreign Trade
When it comes to resources and services, no country is self-sufficient. Resources or services that are lacking must be imported from other countries! This shows how important foreign trade is! Without it, economies around the world will simply collapse!
Global trade is just a part of economics. If global trade is slowed down, it will have a negative impact on international economy!
Come, let us check out the list of courses now. Here they are –
List of Foreign Trade courses in India
As I mentioned before, there are various course formats available in India. Let us check them out one by one –
1 Bachelor’s Degree courses
- BBA in International Business
- BBA in Foreign Trade
- BA Foreign Trade
- B.Com. Foreign Trade
- BFT (Bachelor of Foreign Trade)
- BBA + MBA Integrated programs
Eligibility: Bachelor’s Degree courses are usually 3 years long. Students who have passed 12th standard are eligible to pursue these courses.
2 Master’s Degree courses
- MBA in International Trade
- MBA in Foreign Trade
- MA Foreign Trade
- M.Com. Foreign Trade
- MFT (Master of Foreign Trade)
Eligibility: Graduates who have completed relevant Bachelor’s Degree course are eligible to pursue Master’s Degree programs. Master’s programs are usually 2 years long.
3 PG Diploma courses
- PG Diploma in International Trade
- PGDM (Foreign Trade)
- Advanced Diploma in International Business
- PG Diploma in Foreign Trade Management
Eligibility: Graduates who have completed relevant Bachelor’s Degree course are eligible to pursue PG Diploma programs. These programs are usually 1-2 years long.
4 PG Certificate courses
- PG Certification in International Trade
- PG Certification in Foreign Trade Management
Eligibility: Graduates who have completed relevant Bachelor’s Degree course are eligible to pursue PG Certificate programs. These programs are usually 6-12 months long.
5 Doctoral programs
- PhD in Foreign Trade
- M.Phil. in Foreign Trade
Eligibility: Candidates who have completed relevant Master’s Degree course are eligible to pursue Doctoral level programs.
There exists many Government and Private colleges across India offering this course. Government colleges charge relatively lower fees than their private counterparts.
You may also check –
Investment Banking courses in India
Actuarial Science courses in India
Reputed institutes rely on merit based admission process. Such institutes make use of relevant entrance test to select deserving candidates. Some institutes are also known to conduct their own qualifying test in order to select deserving candidates.
Some other institutes are also known to conduct direct as well as donation based admission process.
Foreign Trade professionals have diverse job opportunities available in front of them. They have access to both Government and Private sector jobs.
As I mentioned before, global trade is a very vast field. It consists of aspects like import, export, laws, policies etc. As a result, this sector also generates a variety of job profiles!
Who you’ll get hired by and the job profile that you’ll get depends upon your qualification and specialization. For example, an MBA grad is more likely to get managerial posts.
Some of the prime recruiters are –
- MNCs (Multinational Corporations)
- Import & Export Agencies
- Logistics Firms
- Supply Chain Management Firms
- International Trading Firms
- Government Departments (Customs, IMPEX etc)
- Port Trusts
In the above mentioned firms, one may don the following roles –
- Foreign Trade Analyst
- Import Manager
- Export Manager
- Facility Manager
- Facility Supervisor
- Logistics Manager
- Supply Chain Manager
- Trade Specialist
- Legal Officer
- Government Officer
If you are an entrepreneur at heart, you may start your own consultancy or trading firm. Entrepreneurship is an excellent opportunity available in front of foreign trade professionals.
Starting salary of a Foreign Trade professional depends upon a number of factors. Some of the prominent factors are –
- Institute from which the candidate completed the course
- Level of education (UG, PG etc)
- His/her specialization
- The domain he/she has chosen
- Job location
On an average, starting salary could be anywhere between 20-30K INR per month (for UG freshers). In case of a Government job, the salary will be as per the pay scale and grade. Abroad, the salary is much higher than what it is in India.