DGFT India: Regulating the Import export Trade of India

Those who are enjoying import export trading are well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is among 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 of this major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Foreign trade Policy or the Exim Policy, etc.

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

Following is the list of 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 Elizabeth.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 for this major activities of this authority are usually mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary requirement of any company or venture capitalist seeking to do upload in Of india. The IEC code can sometimes obtained of one’s regional offices by applying through post or through an online application form. One could check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities in one country an additional. In short it is a particular number assigned to particular products employed for describing goods in the import export trading staging.

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

Whenever the Directorate makes any new amendment or introduces a new clause to your preexisting policy, the amendment notification is flashed through the internet too. It is important to find the folks the international trading community to have a tab on all these important announcements. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database world wide web.