UK-based firm Vodafone is interested in acquiring a stake in India-based Hutchison Telecom Limited because this will lead to more profit for the company. Companies like Infosys, Wipro or Ranbaxy are opening international offices to carry on their business more effectively. These examples just go to show that no company in the world operates in isolation; so it is but natural that managers who have an understanding of the international business environment are in great demand.

In India, take the example of the airline industry. Many airlines like Jet Airways, IndiGo, and Kingfisher are headed by expatriates. These foreign professionals are faced with the challenge of using their global learning experience to successfully manage their operations in India. Or, take the example of former Hindustan Lever chairman Vindi Banga, who now works with Unilever in London. He has to interpret his long Indian work experience to suit the needs of his international position.

While conventional management programmes offer a general understanding of management principles as a whole, international business is emerging as a popular specialisation in B-schools. Prof. Vikas Gupta, Institute of Management Technology, Ghaziabad, says, “Since the liberalisation of the Indian economy, overseas job opportunities have increased. At the same time, there exists a need for management professionals who will be able to deal efficiently with cross-cultural, financial and social issues.”

In 1963, the Indian Institute of Foreign Trade (IIFT), the first institute dedicated to teaching courses in international trade, was set up. Today, the institute gets over 40,000 applications for the 180-odd seats on offer at its campuses in Delhi and Calcutta. A number of other institutes, including the Symbiosis Institute of International Business (SIIB), Pune, IMT Ghaziabad and Amity School of Business, have also begun to offer this specialisation.

Prof. Gupta states that the number of students currently doing the international business (IB) course at IMT Ghaziabad is 40 per cent more than in the previous two years. So, how different is the international business course from the conventional management programme?

Gautam Dutta, professor at the IIFT Calcutta campus, says, “Not much different, actually. The only difference in our Institute is that students are also taught international management practices along with the national ones.”

Siddharth Mukund Srivastava, a first year student at IMT Ghaziabad, explains that while the first year course is meant for all management students, in the second year, if students opt for IB, they are taught subjects like international trade operations and logistics management, global supply chain management, WTO issues and policies and forex management. Dutta adds, “The subjects in the curriculum are not very different. But if we teach our students human resources in India, we will also teach them international HR practices.”

Starting salaries for students from institutes like the IIFT is around Rs 8 lakh per annum, while IMT says its placements are on a par with its regular MBA programme. However, very few international companies recruit students from these campuses.

Prof. Gupta blames this on the lack of clarity on the part of the industry. “The companies are not clear if they would prefer their old hands to take up operations abroad or recruit new blood for the same when they expand internationally,” he says.

According to Gupta, till industry takes an initiative to specifically recruit IB professionals, students would continue to find it difficult to find jobs in the Indian sector.

Dutta, however, does not feel that specialising in IB is a handicap since these students are equally adept at managing local businesses.

But there is hope for the future. As more foreign companies arrive in India, the need for professionalism in international trade practices will result in an increase in the demand for IB professionals.