DGFT India: Regulating the Export import Trade of India

Those who are enjoying import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and Import Export Code Application Online India related activities a country are one of this major objectives of this organization. To fulfill extra 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 various 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 be easily 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 A.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 the major activities of this authority which usually are mandate for import export traders include:

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

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities 1 country option. In short it is really a particular number assigned to particular products useful for describing goods in the import export trading staging.

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

Whenever the Directorate makes any new amendment or introduces a whole clause for any preexisting policy, the amendment notification is flashed within internet also. It is very important for all the persons in the international trading community to keep a tab on all these important cards. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a respected export import database site.