MBA in Foreign Trade

Are you interested in pursuing a good MBA program? If yes, this article will be of help to you. Here, we will have an in-depth analysis of MBA in Foreign Trade course.

MBA in Foreign Trade

How’s this article of help to me, you may ask. Here, you will find everything you need to know about MBA in Foreign Trade course! This post covers topics such as – course details, duration, eligibility criteria, colleges, admission process, syllabus, fees, careers and salary specs.

 

MBA stands for Master of Business Administration. Broadly speaking, there are two types of MBA programs –

 

A general MBA program deals with general management subjects. The academic program covers core management subjects.

 

Specialization program focuses on a particular field/domain/discipline. The academic program covers core management subjects as well as discipline-specific subjects. Examples are – MBA in HR, MBA in Marketing, MBA in Operations etc.

 

MBA in Foreign Trade is one such specialization program! As the name suggests, this academic program focuses on foreign trade!

 

Here’s an overview of the course –

  • Name of the course: MBA in Foreign Trade
  • Type of course: Master’s Degree
  • Duration: 2 years
  • Eligibility: Completed Graduation from a recognized University/Institute

 

Do you want to know more details about MBA in Foreign Trade? If yes, the next section will be of help to you!

 

What’s Foreign Trade all about? Why is it so important to international economy? Which are the important sub-disciplines within this field? You will find answers to all these questions in the next section –

 

 

MBA in Foreign Trade: Basic Details

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 –

  • Imports
  • Exports
  • 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.

 

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!

 

Come, let us take a closer look at the course details. Here they are –

 

Course Details

 

Type of course

It is a PG (postgraduate) level management education program.

 

Duration

The academic program is 2 years long.

 

Eligibility

Must possess a valid Bachelor’s Degree from a recognized University/Institute.

 

Colleges

There exists many Government and Private colleges across India offering this course. Government colleges charge relatively lower fees than their private counterparts. Some of the popular institutes are – IIMs, XLRI, IIFT, SIIB etc.

 

Admission

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.

 

Syllabus

Here are some of the important subjects in MBA in Foreign Trade curriculum –

  • Import Management
  • Export Management
  • Foreign Trade Regulations
  • Trade Policies
  • International Business Laws
  • Logistics Management
  • International Trade
  • Finance Management

 

Fees

Fees charged for the academic program may vary from one institute to another. Course fees depends upon the following factors –

  • Type of institute (Government, Private, Aided etc)
  • Location of the college
  • Status and rating of the college
  • Scholarship status (of student, if applicable)

 

Government colleges are known to charge low fees. Average fees in private colleges could be anywhere between 60-150K INR per semester.

 

Career Prospects

MBA in Foreign Trade graduates 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!

 

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)
  • Ports
  • Consultancies

 

In the above mentioned firms, one may don the following roles –

  • Foreign Trade Analyst
  • Import Manager
  • Export Manager
  • Facility Manager
  • Facility Supervisor
  • Consultant
  • 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.

 

Salary

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 30-75K INR per month. In case of a Government job, the salary will be as per the pay scale and grade.

 

Check out more foreign trade courses – MBA in International Business & Bachelor of Foreign Trade.

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