Growing opportunities in international trade

A career in international trade has tremendous potential with employment opportunities multiplying in export-import firms With the rapid globalisation of markets and the dismantling of trade barriers under the new World Trade Organisation (WTO) regime, highly rewarding job opportunities are becoming available to professionals trained in export-import or foreign trade management. A career in international trade has tremendous potential with employment opportunities multiplying in the marketing, documentation, shipping, and packaging departments of export-import firms and in the export divisions of business firms. To successfully effect business transactions beyond national and cultural boundaries is very challenging. It’s like walking a tightrope because it requires success in international markets while working within the bureaucratic constraints of the domestic environment. Even though international trade is mainly transacted by private sector exporters and importers, it takes specialised students of international trade to help manage the myriad official procedures associated with it. A formal study course in export-import management familiarises the student with fundamentals of international business such as international marketing, banking, forex (foreign exchange) management, export-import policies, export commerce, shipping documentation, marine and cargo insurance etc. India has an impressive catalogue of exports comprising spices, garments, gems and jewellery, handicrafts, medical and chemical goods, and services like software solutions. The best education programmes in this field are offered by the Indian Institute of Foreign Trade (IIFT), New Delhi. Courses offered at IIFT include PG diploma in international trade. Duration: one year. Eligibility: Master’s degree in any subject with two years’ relevant experience or bachelor’s degree in any discipline with at least 55 percent plus two years work experience. Age: below 30 years. IIFT also offers a Master’s programme in international business. Duration: two years. Eligibility: bachelor’s degree or a Master’s degree in any discipline with at least 50 percent. Other reputable institutes offering postgraduate courses in foreign trade/international trade or international marketing include: Department of Commerce and Business Management, Punjab University, Chandigarh Department of Commerce, Delhi School of Economics Indian Institute of Export Management, Kolkata Symbiosis Institute of Foreign Trade, Pune Institute of Management Development & Research (IMDR), Pune International Institute of Foreign Trade, Gandhinagar Campus, Visakhapatnam Amity Business School, Noida Jawaharlal Nehru University, New Delhi Indian Institute of Commerce and Trade, Lucknow Recently IIFT has introduced its part-time three-year MBA in International Business on its Salt Lake, Kolkata campus. This programme is being offered at IIFTs Delhi campus as well. Among takers are government officials, senior managers, and executives with six to seven years work experience. Currently there are over 5,000 export-oriented firms in Mumbai itself. International trade managers are needed by them. Their services are also needed by shipping companies and clearing and forwarding agents as also by multinational and national export and trading houses. Consequently, pay packages are very attractive though they vary with managers’ experience and the type and size of the employer company. “With India’s exports growing by a healthy 10-15 percent per year, young people need to look beyond the infotech and MBA options at careers like foreign…