How to Become a Foreign Trade Expert?
New Delhi, June 16 - WHAT'S IT ABOUT?
International trade practitioners need to be knowledgeable about the global trade environment, factors affecting it, rules and regulations and a host of practical issues related to international trade. They need to stay updated on the latest market dynamics, policies and practices
The job of a foreign trade expert is not limited to any specific segment such as marketing, documentation, sh
ipping and packaging, or functions-related export management, pricing, sourcing, costing, export market research, distribution, freight marketing, export finance, documentation, and foreign exchange... It is a combination of all of the above and much more
With the opening up of the market, global trade barriers have been knocked down. A truly global marketplace has become a reality in both the physical and virtual realm. This has created immense opportunities in international trade. An expert has to be outwardly focused and open to adopting various strategies for survival and growth of his or her organization
CLOCK WORK
There are no fixed timings because a foreign trade expert might have to work according to various time zones.
However, there are few things that a foreign trade professional would typically do on a day-to-day basis
9 am: Reach office
10 am: Analyse trends
12 pm: Feed actual trade negotiations; give inputs for trade policy-making, including in domestic trade
2 pm: Meet government officials, industry contacts
4 pm: Keep an eye on key agreements being signed all over the world
5.30 pm: Take stock of the day's work and various negotiations that are taking place in various industries; plan for the next day
6 pm: Leave for home
THE PAYOFF
- Trainee: Rs 2.5 lakh to Rs 3.5 lakh per annum
- Executive: Rs 4 lakh to Rs 5 lakh per annum
- Jr Manager: Rs 6 lakh to Rs 8 lakh per annum
- Manager: Rs 10 lakh to Rs 15 lakh per annum
SKILLS
- Awareness of practical issues, quantitative techniques
- Good domain knowledge
- Knowledge of trade policy issues
- Customer-centric approach
- Good communication skills
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HOW DO I GET THERE?
There are several long-term and short-term courses offered by many institutions in India.
IIFT, ISB, IIM have specialised courses in foreign trade. Postgraduate courses in international business and supply chain management offered by top management institutes are also good for candidates looking for a career in foreign trade.
There are also short-term courses on export documentation and trade procedures
INSTITUTES & URLS
Postgraduate courses:
- Indian Institute of Foreign Trade (IIFT), New Delhi and Kolkata, www.iift.edu
- Symbiosis Institute of International Business, www.siib.ac.in
- ASM's Institute of International Business And Research, Punewww.iibr.org
- Gitam Institute of International Business, www.giib.edu.in
PROS & CONS
"Trade is a dynamic concept, and foreign trade has been around since ages. And to track it, get involved in it, and see multinational level negotiations is a fascinating proposition. Opportunities are unlimited and anybody who is a trained professional does not have to hunt for the job. Another good thing is that you are invovled in policy making. The only negative point I can think of is a hypothetical situation where the volume of foreign trade goes down and job demand comes down drastically," says Manab Majumdar of FICCI
Source: HT Horizons
Date: 18th June, 2010
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