The significance of the foreign exchange market lies in the fact that while investing in another country a country performs foreign exchange. These transactions have significantly increased the demand for foreign exchange. Subsequently, the forex market is the electronic network of banks, institutions, brokers, and individual traders who mostly trade through brokers or banks.

Thus, forex trading with its immense scope is an ideal field of career for candidates from different backgrounds such as commerce, management, engineering, etc. In this blog, we’ll discuss in detail all about forex trading along with the Future Scope and Career Opportunities of Forex Trading in 2022 to give you an idea of the opportunities available in this sector. So, stick to the blog till the end and gain insights into this field.

Skills Required

In order to become a proficient Forex trading professional, it is advised for you to possess the following abilities and skills-

• Mathematical knowledge
• Analytical skills
• Knowledge of market dynamics
• Record-keeping skills
• Basic knowledge of forex

Learning Outcomes

Learning forex trading helps you in-

• understanding the operation of foreign exchange market.
• understanding the currency valuation principles.
• gaining an understanding on foreign exchange management in the country.
• learning methods that can be used for hedging foreign exchange risk.

Roles and Responsibilities

As a forex trading professional, you’ll have the following duties-

• Overseeing and maintaining the foreign currency market position of an orgnisation.
• Communicating rates to and directing other staff accordingly.
• Advising international clients on foreign markets as well as fluctuations.
• Executing foreign currency transactions for their clients.
• Establishing local exchange rates for retail customers on the basis of market fluctuations.
• Recommending products based on commodity market and international currency.

Career Prospects

People from commerce, management, engineering, backgrounds, with an interest in forex trade can opt for a career in this field filled with plenty of opportunities for talented people. So, let’s look at the future scope and job opportunities in forex trading-

Forex managers

Forex managers are the professionals who forecast the future trends of the global economy from the history and current situation, so as to exploit the opportunities emerging out and help decrease the risks faced by the organization.

Average salary: ₹13,03,624 

International marketing consultants

International marketing consultants provide advice and information about international business development as well as marketing. Alongside, they research international business, investment opportunities, business practices, competitors, develop proposals and make recommendations.

Average salary: ₹3,70,000

International trade finance managers

International trade finance managers support business departments by handling the different aspects of banking documentation and procedures mainly application of the letter of credit, collection bills, and import/export L/C, banker’s guarantee, and liaising so as to rectify discrepancies on L/C documents, etc.

Average salary: ₹8,50,000

Market research analysts

Market research analysts are responsible for surveying the preference of customers and statistical data to support customers during their decision-making process about the product designs, promotions, and prices.

Average salary: ₹4,61,755

Forex software developers

Forex software developers are responsible to provide all the updates from the markets and help you schedule your trade. They also guide people through the volatilities of the market and make them a smart trader with specific tools and news designed to facilitate Forex trading.

Average salary: ₹6,00,000

Forex operations managers

the ones who interact with customers and use data analysis techniques so as to study large amounts of information and create plans to meet the requirements of customers.

Average salary: ₹9,00,000 

Global trade managers

Global trade managers work to facilitate the flow of information, money, as well as goods in global trade supply chains including buyers, intermediaries, and sellers including customs agencies, freight forwarders, and banks.

Average salary: ₹11,00,000

For candidates who wish to make a rewarding career in International trade and foreign exchange, it is advisable to get certified in the same so as to empower themselves to attest to their foreign exchange knowledge to satisfy their roles and responsibilities as a Forex professional.

Hence, if you are ready to validate your skills and get certified in it then the following tutorial would help you understand everything you need to know about this certification program along with the ideal ways to prepare for it. You can also try out the practice tests in order to test your preparation and analyze your performance.

So, what are you waiting for? Get yourself certified in Forex Trading with Vskills to start your career in this field!!

The post Future Scope and Career Opportunities of Forex Trading in 2022 appeared first on Vskills Blog.

Foreign trade is basically the exchange of capital, goods, as well as services across international territories or borders because there is a need for goods or services. Thus, such trade represents a good share of gross domestic product in most of the countries.

Candidates from diverse backgrounds such as commerce, management, engineering, etc, and interest in foreign trade can opt for a career in this field. In this blog, we provide you with a list of the 10 Best Paid Foreign Trade Jobs and Careers to pursue in 2022 to give you an idea of the opportunities available in this sector. So, stick to the blog till the end and you’ll be able to better analyze your profile of interest in this field.

So, without any delay, let’s look at the 10 Best Paid Foreign Trade Jobs and Careers to pursue in 2022-

1. International trade finance managers

International trade finance managers support business departments by handling the different aspects of banking documentation and procedures mainly application of the letter of credit, collection bills, and import/export L/C, banker’s guarantee, and liaising so as to rectify discrepancies on L/C documents, etc.

The main roles and responsibilities of these professionals include-

Roles and responsibilities

• Originate and complete trade finance transactions across different countries.
• Structure transactions.
• Develop and negotiate term sheets to execution.

Average salary: ₹8,50,000

Get certified here

2. International marketing consultants

International marketing consultants provide advice and information about international business development as well as marketing. Alongside, they research international business, investment opportunities, business practices, competitors, develop proposals and make recommendations.

The main roles and responsibilities of these professionals include-

Roles and responsibilities

• Studying profile and operations of a company in order to understand its marketing requirements.
• Conducting market research and identifying commercial opportunities.
• Developing and implementing a marketing strategy according budget and objectives.
• Preparing detailed proposals as well as marketing plans.

Average salary: ₹3,70,000

Get certified here

3. Market research analysts

Market research analysts are responsible for surveying the preference of customers and statistical data to support customers during their decision-making process about the product designs, promotions, and prices.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Work with clients in order to design solutions that meet the needs. 
• Devise data collection methods, like surveys, opinion polls, and questionnaires.
• Gather data on competitors, consumers, and market conditions and analyse this with the use of statistical software.

Average salary: ₹4,61,755

Get certified here

4. International business developers

International business developers are at the front of the company and have the dedication to creating and applying an effective sales strategy. Subsequently, their major goal is to drive sustainable financial growth by boosting sales and building strong relationships with clients.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Monitoring the effective implementation of business development activities. 
• Developing seperate business plans for each country.
• Administering and developing initiatives for increasing sales and market development activities.

Average salary: ₹9,60,000

Get certified here

5. Supply chain managers

Supply chain managers oversee and manage every stage of the production flow, starting from the purchase of raw materials to the delivery of the final product. Thus, they ensure that the right amount of product is made at the right time, and also coordinate the storage of the product.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Creating the supply chain strategy of a company.
• Analyzing data from shipping and delivering processes so as to find bottlenecks.
• Evaluating and reporting on KPIs.
• Monitoring logistics in order to ensure their smooth running.

Average salary: ₹12,81,605

Get certified here

6. Relationship managers

Customer relationship managers are the ones who interact with customers and use data analysis techniques so as to study large amounts of information and create plans to meet the requirements of customers.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Creating and enforcing plans that help meet the customers’ requirements.
• Building long-term relationships with clients as well as customers.
• Working quickly in order to address and resolve customer issues.
• Notifying the sales team of the new sales and opportunities of cross-selling.

Average salary: ₹3,90,473 

Get certified here

7. Global trade managers

Global trade managers work to facilitate the flow of information, money, as well as goods in global trade supply chains including buyers, intermediaries, and sellers including customs agencies, freight forwarders, and banks.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Manage business processes related to cross-border trade.
• Control orders and shipments and ensure the adherence to trade laws and regulations.

Average salary: ₹11,00,000

Get certified here

8. Export managers

Export managers are responsible for planning and coordinating the international shipment of goods. Thus, they are required to negotiate with a variety of people, like shippers, vendors, and agents, and are expected to have good customer service skills in dealing with customers.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• Design and implement different export strategies.
• Supervise the sales staff’s work.
• Prepare an effective business plan to achieve the desired targets.
• Monitor sales transactions and review customer responses for all orders and payments.

Average salary: ₹7,00,000 

Get certified here

9. Foreign trade analysts

Foreign trade analysts are the people responsible for analyzing foreign trade and monitoring the global market to guide strategic international business decisions. Moreover, they help their clients maximize their business investment opportunities globally.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• monitoring trends in different financial sectors and industries within countries across the globe.
• identifying and analyzing information on trade and economic matters related to the competitive position of a company.

Average salary: Rs.3,90,000

Get certified here

10. Market research executives

Marketing research executives are the professionals responsible for planning, administering, and coordinating market research projects. So, they basically collect and analyze information indicating what people think about consumer products or specific societal issues.

Besides, the major roles and responsibilities of these professionals include-

Roles and responsibilities

• consult clients about needs and objectives of the project.
• design research techniques like interviews and questionnaires.
• carry out quantitative and qualitative research.
• agree timescales and budgets.

Average salary: Rs. 2,80,000

Get certified here

Finally, we have discussed the 10 Best Paid Foreign Trade Jobs and Careers to pursue in 2022. Candidates from any background pursuing an interest in business, management, trading, foreign exchange, etc can apply for these promising job roles in foreign trade.

The post 10 Best Paid Foreign Trade Jobs and Careers to pursue in 2022 appeared first on Vskills Blog.

Responsibilities

As an international trade specialist, one is required to-

• Coordinate financial activities
• Obtain payments for import/export operations
• Give financial advice
• Enhance business in foreign countries
• Promote business expansion
• Analyze foreign trade
• Monitor global markets

Recommended skills

To begin with, let’s discuss the basic skills that are required to achieve excellence in international trading. These are-

• Networking skills
• Detail-orientation
• Analytical approach
• Logical thinking
• Communication skills
• Writing skills
• Cross-cultural communication

10 Best Online Certification Courses to start your career in International Trade

In order to build a career in international trade, here are the best courses on international trade offered by some well-known online educational sites and institutes that will not only enhance your knowledge and skills but will also prove your knowledge on this subject on several professional platforms. So, let’s look at the 10 best online certification courses on international trade.

1. Certified International Trade and Forex Professional Course by Vskills

The Vskills International Trade and Forex Professional certification helps in differentiating the candidates in today’s competitive job market, enhances their earning potential, and widens their job opportunities by showcasing their advanced skills. This course will prove to be really beneficial for executives, finance managers, forex, or international trade professionals and also for candidates who would like to take this certification for career progression.

Course Details

• Certification type- Government
• Certification validity- Lifetime
• E-learning access- Lifelong
• Learning hours- 12 hrs

Course Outline

• International Trade
• International Trade – WTO
• Export and Import
• Starting Exports – Important steps
• Export Documentation
• Payment Terms
• INCOTERMS
• Methods of Financing Exporters
• Processing of an export order
• Imports
• Forex Introduction
• Foreign Exchange Basics
• Foreign Exchange Risks
• Kinds of Foreign Exchange Market
• Currency Markets in India

Apply for the course

2. International Trade 101 by Udemy

This course very well explains the procedure of physical trading that includes exporting or importing or buying from one country and selling in another country. The best thing about this course is the trainer with 16 years of international trading experience and explanation that provides clear understanding, well-narration, and specimen documents. Moreover, this course will act as a reference guide for people in the trading industry or those pursuing their trading business.

Course Details

• Accessible on- Mobile and TV
• Certification validity- Lifetime
• 1 article and 3 downloadable resources
• Learning hours- 2.5 hrs

Course Outline

• Introduction
• Basic terminologies in international trade
• Activities and processes in international trade
• Conclusion

Apply for the course

3. International Business Specialization by Coursera

The International Business specialization is specially designed for candidates who wish to gain a thorough understanding of concepts, tools, and applications of international business. The knowledge gained through this program can be employed to advance one’s current work, prepare for international careers, and understand the importance of international business practice on globalization. This course covers the global context of business, human resources, national cultures, marketing, foreign exchange, supply chains logistics, and modes of entry in the context of international business and commerce.

Course Details

• Shareable certificate
• Level- Beginner
• Hands-on project
• Learning duration- 5 months( at a pace of 3hrs/week)

Course Outline

• International business context
• Foreign business and culture
• International business operations
• International business venturing abroad

Apply for this course

4. International Macroeconomics by edx.org

The International Macroeconomics course by UQx builds your knowledge of macroeconomics and international trade along with a strong foundation of economics. This is meant for everyone, be it a university student, a career professional, somebody interested in expanding his/her economic knowledge, or a curious student who wishes to gain knowledge about global economic behavior and factors influencing it.

Course Details

• Institution- UQx
• Self-paced
• Level- Intermediate
• Learning duration- 1.5 months( at a pace of 2hrs/week)

Course Outline

• Fundamentals of the contemporary international macroeconomy
• Trade
• Exchange rate systems
• International financial policy
• Open macroeconomy

Apply for this course

5. Course in Import-Export by onlinestudies.com

The Import-Export (International Trade) course is designed for candidates looking to put up a business, planning to join a global trade organization, or wishing to launch an existing business into the international scene. Subsequently, candidates can build their careers in the following domains after completing this course.

Career Prospects

• Transporters
• Logistics professionals
• Private and public import-export
• Manufacturers/exporters
• Wholesale traders

Course Details

• All locations- London
• Language- English
• Pace- Full-time, Part-time
• Learning duration- 40-156 weeks

Course Outline

• Introduction 
• Starting in Importing and Exporting 
• Sourcing Products and Sellers 
• The Agency Agreement 
• How to Find Buyers 
• The Difference Between an Agent and a Merchant 
• Advertising 
• Laws and Regulations 
• Documentation

Apply for the course

6. Export / Import Certificate (EIC) by ICC Academy

The EIC certification by the ICC academy is an international trade certification that provides you with practical and comprehensive knowledge on the way to conduct cross-border transactions. This certification is beneficial for exporters, forex managers, freight forwarders and carriers, trade finance bankers, customs brokers, inspectors, insurance providers, trade promotion executives, and trade lawyers. Moreover, some other important details of this certification are-

Course Details

• Accessible for 12 months
• Learning duration- 21 hours
• Downloadable study guide
• Fees- USD $699

Course Outline

• International trade overview
• Business transactions and contracts
• Financing and security devices
• International logistics and sourcing
• Global business management

Apply for the course

7. Advanced certificate in international trade by NIFT

This course by NIFT is designed for candidates who are looking for better employment opportunities or their independent export-import businesses. The course is designed in a way that helps the candidates get acquainted with practical knowledge, that would help them apply their knowledge in real-world, become export-import executives and would also enable them to start their own business in international trade.

Course Outline

• International marketing
• Exports finance, banking, pricing costing and exchange regulations
• Export procedures and documentation
• Import management
• Foreign trade policy
• Foreign trade logistics and cargo insurance

Apply for the course

8. Diploma in international trade management by NMIMS

The diploma in international trade is a one-year program that familiarises its applicants with the concepts like foreign policies, import and export management, currency conversion and fluctuation, global communication, macro-economic analysis, etc. Moreover, it illustrates the process flow for international business operations and provides knowledge on the principles of international trade and cross border businesses etc.

Course Details

• Eligibility-Bachelor’s Degree
• Learning duration- 1 yr
• Fees- Rs. 1,200/-

Course Outline

• Management Theory and Practice
• Organisational Behaviour
• Marketing Management
• Business Economics
• Financial Accounting & Analysis
• Information Systems for Managers
• Export Import Procedures and Documentation
• India’s Foreign Trade
• International Business
• Customs Shipping and Insurance
• International Marketing
• Business Law

Apply for the course

9. Certificate in international trade by Institute of Export

This is a basic level qualification in international trade that aims to help candidates get started in international trading and cross-border business. This qualification does not require any formal prerequisites. Moreover, this has been designed in a way to fit around a full-time career, with online study supported by webinars, sessions, podcasts and contact with tutors. 

Course Details

• Enrolment fee £975
• Student Registration (two years student membership) £236
• No eligibility criteria
• Supported Distance Learning

Course Outline

• Fundamentals of International Business
• Introduction to International Trade Management
• Global Marketplace
• International Transport and Documentation

Apply for the course

10. Incoterms by Coastline Solutions

The objective of this course by Coastline solutions is to ensure a robust foundation in the use of Incoterms rules. Moreover, it offers the following benefits to candidates-

• Quality
• Consistency
• Convenience
• Value for money

Course Details

• Learning duration- 6 hours
• EUR 199 per trainee
• Email- info@coastlinesolutions.com 

Course Modules

• INCOTERMS rules
• Case studies
• Assessment

Apply for the course

I hope this blog will turn out to be insightful and will help you choose the best course for you. So, stop waiting and start learning; enroll in any of the above courses and kick-start your career in international trading.

HAPPY LEARNING!!

The post 10 Best Online Certification Courses to start your career in International Trade appeared first on Vskills Blog.

Regional Economic Integration refers to agreements among countries in a geographic region to reduce and ultimately remove tariff and non tariff barriers to the free flow of goods, services and factors of production between each other. The various levels of REI are

1. Free Trade Area: All barriers to trade such as tariffs and quotas are removed among member countries t promote free trade. Example- NAFTA (North American Free Trade Agreement)

2. Customs Union: The next step in the integration process is the establishment of a common external trade policy with respect to the non member countries. Example- Andean Pact

3. Common Market: In addition to the above conditions it require free movement of factors of production such as  labour, capital and technology between countries. Example- European Community before 1994

4. Economic Union: It require a common currency, a common monetary and fiscal policy and harmonisation of member’s tax rates. Example- EU (European Union)

5. Political Union: This requires the establishment of a common parliament and other political institutions. Example- United States. However EU also has some elements of a political union.

The Economic Case for REI: REI can be seen as an attempt to achieve gains from the free flow of trade and investment countries beyond those attainable under international agreements such as the WTO. Also it is easier to establish a free trade and investment regime among a limited number of adjacent countries than among the world community. Coordination and policy harmonisation problems are largely a result of the number of countries that seek agreement. The greater the number of countries involved, the more perspectives that must be reconciled and the harder it will be to reach agreement.

For Government certification in Banking or Finance – https://www.vskills.in/certification/certifications

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Exercise Malabar is an effort made by the USA and India to conduct regular naval training exercises in the Indian Ocean. It was started in the year 1992 as a bilateral event that includes diverse activities, ranging from fighter combat operations from aircraft carriers, through maritime interdiction operations, and counter-piracy and counter-terrorism operations. Over the years despite its complexity, India and the US have been organizing these exercises annually except for a brief interregnum after the 1998 Pokhran II nuclear tests. Initiatives have been taken to extend participation of more countries.

In 2007, the ninth Malabar naval Exercise was held off the Japanese Island of Okinawa. It has been seen as India’s initial assertion towards marking its presence in the Northeast Asian waters. China protested against this edition in the Bay of Bengal when it was expanded to include the Australian, Japanese and Singaporean navies as well. China had viewed the multi-lateral exercise as its alienation from others.

The previous UPA regime was very strict about inducting Japan into the exercise only when it was held in the north-western Pacific in 2009 and 2014.

Interestingly, current Prime Minister Narendra Modi has strong intentions of bolstering bilateral strategic ties with Japan. India is also keen to acquire at least a dozen of the massive ShinMaywa US-2i amphibious aircraft from Japan for around $1.3 billion. And therefore, Modi has decided to go against China and invite Japan for its forthcoming Malabar naval exercise with the US in the Bay of Bengal in October.

On the other hand, China with its growing military might in the North-Asia Pacific, has vowed to increase its “open seas protection” in tune with its expanding long-range deployments of nuclear submarines, destroyers and frigates far away from its shores. India, the US and Japan all worry about such a behavior on China’s part.

Such a decision puts India in a strong position internationally and portrays India as a free country. With simultaneously operating initiatives like ‘Make in India’ and ‘Digital India’ are a reminder to China and rest of the world that India will soon emerge as a great economic power, and deserves to be respected. This is not a hasty, rather a calculated step as India has intelligently kept quiet in expressing its feelings about the aggressive behavior of china, when in fact USA and Japan have been a lot vocal about it.

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The most controversial policy of UPA government which was represented in 2012 by the Finance Minister of that time P. Chidambaram. The government now had opposed this policy that time but now is supporting the as it is policy of UPA government.

Vice-Chairperson of DIPP the regulatory board for FDI in India said that from last few months India become one of the most open economy leaving only some policies like FDI in multi-brand retail.

Without opening it’s pros and cons, I would like to say that this policy was opposed by the opposition of that time BJP by saying it will be against the local confectionery stores owners. As this policy frame-work consist that the foreign investors has to produce about 70% of product they are use to sell in India.

Without Being pro UPA or pro NDA, Opposition will always oppose the policies of government.

Taking that the FDI in multi brand is not been passed as for this government decided to increase the the multi-brand outlets ran by the Indian companies for Example Big Bazaar, Shubhiksha, Reliance fresh, etc. Is these are beneficial for the local Confectionery stores?

It’s true that 100% of these companies will add to our GDP itself as compared to FDI policy, But if like other Policies of FDIs, The FDI in multi-brand retail will increase the competition among the foreigner players as well as the Domestic players which may increase our GDP and Manufacturing Sector as efficiently as the above mentioned way. It may be possible the outlets are not that easily available to the consumers as the confectionery shops are.
For instance, In Delhi-NCR region it can be possible that one foreign outlet is at Gurgaon one at Noida or one at CP, It can be possible that the local confectionery shops form a merger and compete with the foreign brands.

In last, Government should see that the investors, Local Confectionery shop owners as well as the main priority the consumer must attain the welfare, It should make such that Local Confectionery shop will flexible can form a merger if the want to make so.

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India today is one of the widest emerging market for the in e-commerce either it may B2B or B2C, we have many e-commerce companies to full-fill our daily needs. For instance, if we need cloths there are many websites from which we can order from, as FLIPKART, AMAZON and many more, thus being a good sector to be think about for enhancing it by taking out a economic Reform, FDI in e-commerce.

DIPP the regulatory board for FDI in India make some questions for the policies which are as follows….
1, Should the FDI be allowed in B2C e-commerce?
2, Should it be open for all products or only for the non-food products?
3, Should there be a minimum capitalism limit?
4, Should there be a domestic sourcing limit or if yes then how much?
5, How will retail sale under MBRT be restricted to states that have agreed to open fronted stores?
6, What should be the the routes and Caps be in FDI in B2C commerce companies? Should it be automatic up to 50%?
7, What are the likely benefits to Indian Economy?
8, What should B2C e-commerce encompass: goods, services or intellectual property?

The Answer for the question is India needs this policy of FDI is always depends on the pros and cons of the policy on our econnomy.

Pros…
1, It will provide the capital for developing the infrastructure.
2, It will promote the manufacturing sector as well, as these players took the goods directly from the manufacturers.
3, It will increase the outreach of the global best practices.
4, It will increase the competition among the domestic players, which in turn improves the consumer services

cons…
1, If government also came with the policy of Multi-brand retail it will contradict the policy, and will make other policy a futile.
2, Policy may impact small-time brick and mortar stores.
3, It may have the adverse effect on the domestic industry.’
4, Foreign players may dump their cheaper quality product in the market.

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Foreign Direct Investment (FDI) refers to the net inflows of investment expenditure towards the acquisition of a lasting management interest usually 10% or more in an institution or an enterprise with established or developed operations in a market of the economy other than that of the investor. Foreign direct investment is a transitional catalyst that initiates the conversion of an economy from a closed economy to an open market that allows for and accepts investments from foreign entities, mostly institutional investors so as for them  to have a sizable impact on the development of the economy.

After opening the doors to Indian economy in the liberalization phase, the economy grew at a steady pace but after a period of sustained growth, the graph stagnated due to limitations that were still in place obstructing the complete freedom of foreign investors in India. Further it was on the recommendation of the N K Singh Committee set up in 2002 suggesting that the limitations on FDI be continued which led to the tenth and the subsequent five year plans dropping proposed changes in the existing FDI policy .It was the UPA government in 2011 who then started the pushed towards more liberal laws by recommending and allowing 51% FDI in multi brand retail and raising the existing ceiling on single brand retail from 51 % to hundred percent.

With a shift in the leadership up top  in the Indian parliament ,the new government under the BJP regime has taken a more favorable and aggressive outlook towards development of FDI policies in India. The BJP government though has not made any changes and has stuck to the existing FDI laws in India yet has managed to make a great impact.

The laws at present in India that regulate our foreign investment policies are Foreign Exchange Management Act, 1999 (FEMA) ,  Regulations Securities and Exchange Board of India Act, 1992 ,Regulations Foreign Trade (Development and Regulation) Act, 1992, Companies Act, 1956  Indian Contract Act, 1872, Arbitration and Conciliation Act, 1996 , Civil Procedure Code, 1908 , Income Tax Act, 1961  , Competition Act, 2002. It is a combination of these laws that the foreign investment money finds its way into the Indian markets.

The recent trends have seen a more pro FDI policy by the government. In October,2014 Prime Minister Narendra Modi launched the ambitious Make In India programme which was in relation to persuade other investor outside India to invest in India and the Cabinet Committee on Economic Affairs was set up  to manage and give its approval to the foreign investments in India. This project is a step ahead in India’s investment policies as it has set the lion roaring with a 56% jump in the FDI and the CCEA in less than a year has cleared proposals worth Rs 1,827.24 crore into the country. Further, the government most recently has allowed FDI in the aviation sector and a recommendation is pending with regard to allowing 100% FDI in medical sector, these developments indicate there is surely  a great scope for FDI in India.

A more liberal view towards a greater role of foreign money in the development of our country and existing infrastructure would be instrumental in India’s progress as the world being a stakeholder in India’s success, it will not only be us but the world awaiting India’s rise.

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It’s not the first time a government is standing or passing a policy which when they are in opposition are opposed on. Not only those are opposed on as well as every government tries to reform the policies in their way to which they are in favor at time they are in opposition. We have many examples in front of us for example Land treaty with India and Bangladesh, Land Acquisition Bill, an 51% FDI in Multi-Brand Retail.

Yes, You heard right FDI in multi brand retail. We all knew about it when UPA government came up with this policy in parliament in 2012, BJP the leading opposition party of that time had opposed this bill a huge. Not only opposition the parties which were aside or allied in UPA too opposed it Such as Mamta Banerjee led TMC.

Now, the topic is after a huge Rebel against the policy, Standing and shouting at well of Lok sabha for a year, and saying not to implement it NDA governed States, What have been changed in the policy? The answer is nothing but the name of finance minister and prime minister is changed rest the policy is intact, the Carbon Copy of that of UPA government. Not only NDA government is blamed for opposing policies once in the opposition then coming with the same UPA also did the same.

The Questions arises is why the mood swings it that much context from turning from opposition to a ruling party? Why a policy seaming once to devastating changes into developing in just 3 years and that too without any change? Is now the policy of FDI in multi brand Retail is not against the local confectionery stores?….

The Government has too tell there point on this in details as the same policy has been opposed in a very large sphere and now planning to present it in parliament. The “Nation Wants To Know” why so.

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Meaning of Balance of Payments:

It is an accounting statement that provides a systematic record of all the economic transactions, between residents of a country and the rest of the world in a given period of time.

Structure of Balance of Payments:-

a) Balanced BOP: BOP is balanced when receipts of foreign exchange are equal to payments of foreign exchange.

b) Surplus BOP: BOP is surplus when receipts of foreign exchange are more than payments of foreign exchange.

c) Deficit BOP: BOP is in deficit when receipts of foreign exchange are less than payments of foreign exchange.

Meaning of Balance of Trade:

It refers to difference between the amounts of exports and imports of visible items(goods).

Balance of Trade= Exports of goods – Imports of goods

Difference between Balance of Trade and Balance of Payments:

 Basis                                          Balance of Trade(BOT)                       Balance of Payments(BOP)

Meaning                                 It refers to difference between                       It is an accounting statement that provides a

amounts of exports and imports of               systematic record of all economic                                                                            visible items.                                                     transactions , between residents of a country                                                                                                                                     and rest of the world in a given period of time.

Components                          It includes only visible items.                          It includes visible items, invisible items and                                                                                                                                       capital transfers.

Components of Balance of Payments

a) Current Account:- It refers to an account which records of all the transactions relating to export and import of goods and services and unilateral transfers during a given period of time.

b) Capital Account:- It records all those transactions, between the residents of a country and the rest of the world, which cause a change in the assets or liabilities of the residents of the country or its government.

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