DGFT India: Regulating the Import export Trade of India

Those who are in the middle of import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one with the major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way quite a few 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 connected with some of the major wings of DGFT India that takes care of numerous activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.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 among the major activities of this authority that mandate for import export traders include:

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

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities in one country yet another. In short it can be a particular number assigned to a particular products useful for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and companies pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces fresh new clause to any preexisting policy, the amendment notification is flashed through the internet also. It is most important for all of 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 prominent export import database domain.