Globalization has completely transformed the business scenario in India. Foreign trade in India has tremendously grown, naturally attracting more and more MNCs to set up businesses apart from many Indian companies starting businesses in foreign shores or going abroad for joint ventures.
There is a growing need of personnel skilled in international trade. A career in international business has thus become a lucrative option offering global job opportunities for those pursuing courses in foreign trade and international business.
Universities in India mostly offer courses in International Business and Foreign Trade at the post graduate level, but some universities like the Jamia Millia University in New Delhi offers Bachelor of International Business and Finance (BIBF) which is an undergraduate course.
The eligibility for undergraduate courses in International Business and Foreign Trade is 10+2 with 50 % marks. For Masters in International Business and Foreign Trade, the applicant must be a graduate, preferably in commerce.
Selection of candidates is done through entrance examination, but some institutes conduct their own tests, group discussion and a personal interview for choosing the right candidate.
Excellent communication and leadership skills along with the ability to handle pressure and to meet deadlines are necessary to pursue a career in foreign trade.
International trade in India is expanding along with the fast growing Indian economy. Job opportunities are countless with an increasing demand for professionals in International Business and Foreign Trade. Job openings are available in export units, international departments of multinational companies at different levels. For those who desire to set up an import/export business, a degree in International Business and Foreign Trade would be extremely beneficial.
For those wanting to secure government jobs, regulatory bodies like STC and the MMTC offer good employment opportunities.
Over the years, a career in Foreign Trade has become quite lucrative. Starting with a salary of Rs 8000 to Rs.10000 for a trainee, one can command a much higher salary depending on the qualification and experience. Private companies and MNCs generally pay higher.