DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is among the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one with the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of many schemes available as per Export-Import Policy. The prime objective of this department is to promote or facilitate trade related information, and to provide accurate and reliable information in public areas domain that can be used by numerous trading communities within the country and abroad.

Following is the involving some of the major wings of DGFT India that takes care of a lot of activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Licensing

Enforcement cum Adjudication

Statistics Division

Human Resources Development

National Informatics Centre-NIC

DGFT Software Technology Parks in India

DGFT Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some of this major activities of this authority are usually mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary requirement of any company or venture capitalist needing to do upload in India. The IEC code can easily be obtained over the regional offices by applying through post or through an online form. One additionally check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities from one country to another. In short it is often a particular number assigned to a particular products used for describing goods in the Import Export Code Application Online India export trading staging.

It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on the internet also. It is most important for all the members of the international trading community to have a tab on all these important announcements. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export import database internet page.