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Imagine everything in your country (products, services) are made/developed from the ground up within the country. For one thing, this would be impossible in most instances. And in places where it is possible, the expenses would soar sky-high. Hence, enter foreign trade. Since ancient times, countries have understood the importance of Foreign Trade. India, for instance, has been visited by many foreigners in search of trade. This continued as the Western world discovered the riches of India. In this modern day and age, no country will be able to flourish without foreign trade. Hence this field opens up endless possibilities in the private and public sectors. If you have a penchant for business in the global spectrum, then there are numerous foreign trade courses in India to choose from.
What is Foreign Trade?
It is the mutual exchange of goods, products, and services across international borders. This includes imports and export and plays a crucial role in a nation’s economy. Each country has its own set of goals and policies to which it adheres too. There are also International laws and policies to ensure fair play. There are three different types of foreign trade – Export Trade, Import Trade and Entrepot Trade. Foreign trade generates an opportunity for products to reach beyond the domestic markets.
The benefits are numerous:
- It builds good relations between countries
- Creates millions of job opportunities
- Increases the demand of businesses as they now have customers abroad
- Nurtures good relationships between countries
- Good quality products and services for the consumer
- Raw materials become accessible at affordable prices
Who can pursue Foreign Trade courses?
- You are already working in a managerial role in a company
- You are an entrepreneur
- Students can pursue foreign trade courses after 12th
- You are a fresher (high school/ degree graduate) looking for exciting opportunities in the field
Does this sound like you? Then Foreign Trade courses are for you.
Eligibility Criteria for Foreign Trade courses
For UG Foreign Trade courses (BA, B.com, BBA), you must have (10+2) qualification with a minimum passing percentage. Subjects: Accountancy, Mathematics, Economics, and Business Studies as the compulsory subjects at the higher secondary level.
For PG Diploma in Foreign Trade courses, you must have a bachelor’s with a minimum passing percentage.
Entrance Exams for Foreign Trade courses
For UG Foreign Trade courses
- IPMAT (by IIM Indore)
- NPAT (by NMIMS University)
- Symbiosis Entrance Test (Symbiosis International University)
For PG Foreign Trade courses
Important skills for Foreign Trade courses
- Logical and Analytical skills
- Problem-solving skills
- Attention to detail
- Emotional intelligence
- Foreign Languages (beneficial)
- Excellent negotiating skills
Also Read: Top providers offering Foreign Trade courses and certifications
What will you learn in Foreign Trade courses?
The aim of Foreign Trade online courses is to equip you with the practical knowledge to do business in the global spectrum. The courses teach you International Business, trade policies, marketing tactics, and other concepts. Here are some of the prominent subjects you will learn in Foreign Trade courses:
- India's Foreign Trade
- Basics of International Trade
- Import and Export Logistics
- Elements of Export Marketing
- Logistics and Supply Chain Management
- Global Business Environment
- Accounting for Managers
- Managerial Economics
- World Trade Organisations
- Export-Import Management & Policy
- Foreign Language
- Personal Development
- Financial Management
- Computer Application in Foreign Trade
- Global Business Communication
- Business Strategy
- Business Analytics
- International Economics and Trade Theories
- Export-Import: Procedure and Documentation
- Marketing Management
- India's Foreign Trade: Trends, Prospects, and Strategies
- Human Resource Management
- Foreign Exchange and Exchange Control
- International Business Laws
- Business Management Studies
- Insurance and Risk Management in Foreign Trade
- Multinational Financial Management
- EXIM Financing
Popular Foreign Trade certification courses
You can learn the ropes of any business with experience. But Foreign Trade is vast and ever-changing with new trends. Hence it is equally important to dedicate your efforts to get the right education. Foreign Trade certification courses can provide that education to you. They are designed by industry experts and academicians who know all the latest trends. Here are some of the top Foreign Trade certification courses
Career Opportunities after Foreign Trade courses
As a financial advisor, you have to guide your clients (individuals, companies, and others) by evaluating their current financial state and giving them direction on how to go about investments. This way they will be able to achieve their financial goals ( retirement plans, emergency funds and more). You explain to them the laws and policies so that they can make good decisions.
In this role, you need to plan and execute the strategies to enhance the profit margin of your organisation. You will have to study the market in order to come up with the best strategies.
- International Brand Manager
- Export Manager
- International Finance Manager
- Finance Analyst
- Business Development Executive
- Research Analyst
- Business Analytics Manager
- Finance Manager
A glamorous industry such as foreign trade offers glamorous salary packages even at the entry-level. With the right qualifications, you can earn handsome salaries. With experience and more skills, this will go higher. Here is a list of some of the professions related to Foreign Trade and their compensations.
Average Base Salary p.a.
Business Development Executive
** Source of Salary Details: Payscale
Note: The given salary details may vary depending on experience, skill, company, location etc.
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Scope after Foreign Trade courses
Every country is interdependent on one another. Whether it is the public agencies or the private organisations, they all need to have support from across boundaries. For good trades to occur, there is a need for proper organisation, excellent strategies, etc. This is where you come in. With your expertise, you can become a valuable asset to your company. A career in Foreign Trade opens doors to the global arena. So take the best Foreign Trade courses to become the one who is sought after by the best companies in the world.
- Marriott International
- Goldman Sachs
- American Express
- Cisco Systems
- Morgan Stanley
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Q: Can I take online Foreign Trade courses to master the skill?
A: It is possible if you are already a person who knows the ropes of the industry. Online foreign trade courses can amplify your skill set. However, it is beneficial to get a degree in foreign trade as it can teach everything that is required to learn.
Q: Is studying Foreign Trade courses difficult?
A: If you have the business acumen, then you will breeze through it. Take some online Foreign courses as well to learn all the nuances within the discipline.
Q: What is the duration for different Foreign Trade courses?
A: Undergraduate degrees in foreign trade courses take 3 years to complete. For PG foreign trade courses the duration is 2 years. Foreign trade certification courses can range from a few months to almost a year, depending on the course as well as the institute.
Q: What are some of the top colleges that offer Foreign Trade courses in the country?
A: Some of the top colleges that offer Foreign Trade courses are:
- PSG College of Arts and Science, Coimbatore
- Renaissance College of Commerce and Management, Indore
- Dayanand College of Commerce, Latur
- St Anns College for Women, Hyderabad
- RTMNU Nagpur
- Rukmadevi Pannalal Laddha Maheshwari College, Indore
- Villa Marie Degree College for Women, Hyderabad
Q: What is the cost for different Foreign Trade courses?
A: For UG Foreign Trade courses it can cost from Rs 24,000/- to Rs 8.91 lakhs (private) and Rs 12,750/- (public). For PG Foreign Trade courses it can range from Rs 50,000/- (private) and Rs 1.28 lakhs to Rs 2.09 lakhs (public).
Q: What is the need for Foreign trade courses in the world?
A: International Business is crucial for a country’s development. In order for this to be profitable as well as sustainable, good foreign trade strategies and ethics should be in place. Hence the importance of foreign trade courses.
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