MFT in Foreign Trade is a postgraduate course in Foreign Trade Management. Executive Management:
- covers foreign trade or international trade, which:
- is also known in India as the as the Import-Export domain.
- is an exchange of capital, goods, and services across international borders or territories.
- represents a significant share of gross domestic product (GDP).
- is the export of all goods and services to foreign countries.
- is the import of all goods and services to the home country.
- is an extension of the production, exchange, and consumption.
- is essentially 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 to as ‘Commodities’. 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.
Foreign Trade in India is administered by - The Directorate General of Foreign Trade (DGFT), an agency of the Ministry of Commerce and Industry of the Government of India.
Aspiring candidates need to have completed graduation in a relevant subject from a recognized university, with a minimum aggregate score of 50%.
Such postgraduates are hired in capacities such as:
- Foreign Trade Zone Operator
- Global Trade Manager
- Foreign Trade Zone Analyst
- Senior FX Trading Strategist
- Foreign Exchange Trade Settlement Specialist
- Foreign Trade Payables Specialist
- Foreign Trade Representative
- Support Trader
- FX Trading Platform Business Analyst
- Researcher, etc.
The average tuition fee charged for the course in India ranges between INR 10,000 and 20 Lacs for a span of 2 years.
In India, Foreign Trade postgraduates on an average are offered an annual salary ranging between INR 2 and 4 lacs, increasing with experience and skillset.
Top Colleges for Master of Foreign Trade [MFT]
Master of Foreign Trade: Course Highlights
Listed below are some of the major highlights of the course.
|Course Level||Post Graduation|
|Examination Type||Semester System/Year wise|
|Eligibility||Graduation from a recognized university|
|Admission Process||Based on performance in sentrance exam|
|Course Fee||INR 10,000 to 20 Lacs|
|Average Starting Salary||INR 3 to 12 lacs per annum|
|Top Recruiting Companies||Infra, ICICI Pru, Cashpor Microfinance, Optima Insurance, Bharti Airtel, HCL Infosystems Ltd., Wipro, Bajaj Allianz, Tata Steel, TCS, HSBC Bank, HT Media Ltd., etc.|
|Top Recruiting Areas||Export Units, International Trade Regulatory Bodies, Export Promotion Councils, Buying Houses, International Department of Multinational Companies, Trade Regulatory Bodies, MNCs Departments, Research & Educational Institutions, Engineering Goods Companies, Custom Clearing Houses, State Trading Corporations, Shipping Companies or Companies, and such.|
|Job Positions||Foreign Trade Zone Operator, Global Trade Manager, Foreign Trade Zone Analyst, Senior FX Trading Strategist, Foreign Exchange Trade Settlement Specialist, Coordinator, Foreign Trade Payables Specialist, Foreign Trade Representative, Support Trader, FX Trading Platform Business Analyst, Researcher, among others.|
Master of Foreign Trade: What is it About?
Foreign Trade, also termed as International Trade, is relevant since,
It is the exchange of goods, capital and services across international borders and territories.
- Generally, no country can produce all the goods & services that it requires.
- goods that are unavailable or available in insufficient quantities need to be imported.
- Similarly, goods that are excess in quantity need to be exported to other countries.
- Through exchange of products, the world is able to not only meet its need, but also profit from it as well.
The course essentially aims to:
- develop an international networked competitive business and research for individuals, corporate, government, and society.
- globally strengthen, sustain, and professionalize business knowledge through creative research, learning, and teaching.
- exchange mutually beneficial information with organizations, institutions, and universities in the country, as well as internationally.
Top Institutes offering Master of Foreign Trade
Listed below are some of the top institutes in India that offer the course.
Eligibility for Master of Foreign Trade
Candidates aspiring for admission to the course are required to fulfil the following minimum eligibility criteria.
- Graduation completed in any stream, from a recognized educational Board.
- A minimum aggregate score of 50% (45% for SC/ST/OBC candidates) at the level of graduation.
Master of Foreign Trade: Admission Process
Most institutes offering the course in India admit students based on their performance in a relevant entrance test, followed by a subsequent round of counselling.The round of counselling consists of two additional rounds of Group Discussion and Personal Interview, wherein the candidate’s general aptitude for the course is examined.
Some institutes conduct their own entrance tests for offering admission. Admission process generally varies across colleges.
Some such entrance exams are:
- MAT (Management Aptitude Test)
- CAT (Common Admission Test)
- CMAT (Common Management Admission Test)
- XAT (Xavier Aptitude Test)
- GMAT (Graduate Management Aptitude Test –Abroad)
- SNAP (Symbiosis National Aptitude Test)
- NMAT (Narsee Monjee Aptitude test)
- MH-CET (Maharshtra Common Entrance test
- IBSAT (ICFAI Business School Admission Test)
- IIFT (Indian Institute of Foreign Trade)
- ATMA (AIMS Test for Management Admissions)
- TANCET (Tamil Nadu Common Entrance Test)
- AMUCAT (Aligarh Muslim University AMU CAT)
- AMRITA (Amrita Vishwa Vidyapeetham)
- BMAT (Bharati Vidyapeeth Management Aptitude Test)
- FMS (Faculty of management Studies)
- ICET (AP ICET 2020 - Integrated Common Entrance Test)
- KIITEE (KIIT Entrance Examination<)/a>
- KMAT (Karnataka Management Aptitude Test)
- MICA (Mudra Institute of Communications, Ahmedabad Admission test)
- OPENMAT (IGNOU OPENMAT MBA Entrance Exam)
- RMAT (Rajasthan Management Aptitute Test)
- SRMCAT (SRM Common Admission Test)
- HPCAT (Himachal Pradesh Combined Aptitute Test)
- UPSEE (UP State Entrance Examination)
Master of Foreign Trade: Syllabus and Course Description
A semester-wise breakup of the course’s syllabus is tabulated here.
|Management Concept and Organizational Behavior||India' s FT Trends Prospects & Strategies|
|Global Business Environment||Export Import Management|
|Managerial Economics||Financial Management|
|Accounting for Managers||International Economics and Trade Theories|
|Export Import Policy, Procedure and Documentation||Quantitative Techniques for Foreign Trade|
|World Trade Organization||Global Business Communication & Public Relation|
|Foreign Language I||Computer Application in Foreign Trade|
|Financial & Managerial Accounting||Rural Markets and Marketing Management|
|Foreign Exchange and Exchange Control||Foreign Exchange and Exchange Control|
|Insurance and Risk Management in Foreign Trade||Export Finance|
|Multinational Financial Management||Import Finance|
|International Marketing Management and Consumer Behavior||Export Incentives and Institutional Support|
|International Human Resources Management & Organizational Behavior||Export Pricing and Product Planning|
|International Business Laws||Global Marketing Logistics and Supply Chain Management|
|Statistical Analysis & Research Methodology||Global business Communication and Public Relations|
Master of Foreign Trade: Career Prospects
Lucrative job openings are available for such postgraduates in:
- export units.
- international departments of multinational companies at different levels.
- manufacturing companies
- financial institutions.
- government agencies that trade outside their countries.
Such professionals are also recruited as Foreign Trade Managers with the assignment of investigating technical information in global business deals, and comprehending universal trade policies & agreements.
For those wanting to secure government jobs, regulatory bodies like STC and the MMTC offer good employment opportunities.
Some of the popular professional avenues open to successful postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.
|Job Position||Job Description||Average Annual Pay Scale in INR|
|Foreign Trade Mangers||Foreign Trade Mangers are responsible for building up the foreign trade policies and procedures of their organization. They ensure that all the work force required in bringing in and trading products, is consistent with government-enforced controls and methods.||5,84,753|
|Business Development Manager||Business Development Manager improve the organization or association's market position and accomplish financial development. They describe long-term key objectives, create key customers connections, recognizes business offers and openings. Also, they arrange and settle business negotiations, and record of present market situations.||5,63,674|
|Export Manager||Export Managers design and organize the global shipment of products. Over the span of the day, they may consult with an assortment of individuals, for example, shippers, operators and sellers, and are required to have phenomenal client benefit aptitudes in managing clients.||4,98,707|
|Supply Chain Manager||They are responsible for direct or coordinate production, and for obtaining, purchasing, distribution, warehousing, or financial forecasting services. They are also involved in activities that restrain costs and enhance accuracy, client administration, customer service, or safety. They examine existing strategies or open doors for streamlining exercises to meet product distribution needs.||3,62,519|
|Foreign Trade Analysts||Foreign Trade Analysts track the trading of merchandise and ventures between countries in a world that is noticeably always interconnected. They work in both private and open divisions on the grounds of different organizations dealing in global markets.||4,83,471|