DGFT India: Regulating the Import and export Trade of India
Those who are involved in import export trading are well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in 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 authority. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of numerous 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 places domain that can easily 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 associated with 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 the major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which can be a primary requirement for any company or venture capitalist endeavoring to do foreign trade in The indian subcontinent. The IEC code can be easily obtained from the regional offices by applying through post or by using an online form. One could check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a good numerical code assigned to numerous products and commodities for import export trading. This code is usually recommended while shipping commodities in one country option. In short it is really a particular number assigned to particular products used as describing goods in the import export trading program.
It issues new trading policies and updates the existing ones- It lays around the Documents required for IEC Code Registration India framework upon which traders and firms pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed on the internet too. It is very important for all of the folks the international trading community to keep a tab on all these important reports. You can easily get in case you announcements of DGFT India on Infodrive India, a top export import database world wide web.
