Foreign Trade Courses in India are also referred as Import Export Courses in India. Foreign Trade or International Trade is the export of all goods and services to foreign countries and the import of all goods and services to the home country. In this manner, it becomes an extension of the production, exchange, and consumption. Basically, it is the exchange of goods and services between countries. The products used for Foreign Trading are very similar to other products being produced around the world. As such, these products are referred as when trading of Commodities occurs it is known as Commodity Trading. In this process, commodities are often pooled together in one mass market and sold, thereby linking the producers of the commodities effectively with their commercial consumers. Commodity Trading mainly takes place in the commodity markets where raw or primary products are usually exchanged. The most common commodities often sold in foreign trade are Oil and Grain. Foreign Trade is regulated by associations or ministries of the government of the respective countries. Foreign Trade in India is administered by – The Directorate General of Foreign Trade (DGFT). It is an agency of the Ministry of Commerce and Industry of the Government of India and it administers laws regarding foreign trade and foreign investment in India. The regulation of International Trade is done through the World Trade Organization at the global level.
Foreign Trade is important because various countries of the world are not able to produce all the products required by them because of various limitations. Example if Oil is found in abundance in Gulf region, it may not be found at all in U.S.A. or may be available in less abundance. In this way through exchange of products the world is able to not only meet its need but also profit from it as well. Foreign Trade makes certain countries not only specialists in certain products but indirectly it is benefiting the economy. Foreign Trade specialist is known as Foreign Trade Experts. Foreign Trade Expert is responsible for providing guidance and assistance to businesses involved in export and import of goods and services. They are typically involved in development and analysis of international trade issues and policies, which help firms, engage in international marketing or perform international market research leading to identification of opportunities in foreign markets and designing strategies to enter different markets.
Some of its specialized fields are