International trade is an exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). From the days of the ancient barter system of trade to the capitalism of the present day, the world economy has undergone complete metamorphosis and this dynamic process of change continues till date. This book is the result of a genuine quest to understand the complex world of international trade.In 1993, the Uruguay Round of GATT negotiations was successfully concluded and the foundation of World Trade Organization was laid. In 2001, the WTO embarked upon another major round of talks aimed to reduce barriers to trade – the Doha Round. This has been discussed in detail in the chapter on World Trade Organisation (WTO) that has been included in the book due to its importance as a multilateral treaty.Comprehensiveness and relevance also require coverage of the major trade theories. Therefore, the insights gleaned from recent academic work have been incorporated into the text. The latest Foreign Trade Policy (2009-2014) besides Exim Policies, have also been included so that the readers fully understand the export and import business of the country. This book would prove to be a great help to the exporters, importers and MBA students of International Trade.