Those who are linked import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely the reason 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 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 may be 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 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 sometimes used by numerous trading communities within the country and abroad.
Following is the listing of some of the major wings of DGFT India that takes care of those unfortunate activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Ourite.O. Cell
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
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 which usually are mandate for import export traders include:
Issue of IEC number – Apply IEC Online India stands for Importer Exporter Code issued by the directorate, which can be a primary requirement of any company or venture capitalist endeavoring to do move in Of india. The IEC code can be easily obtained over the regional offices by applying through post or with an online form. One additionally be 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 from the numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities 1 country an additional. In short it is really a particular number assigned to a particular products used as 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 trading. Most of the policies 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 for any preexisting policy, the amendment notification is flashed within internet too. It is very important for a lot of the members of the international trading community to keep a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database world wide web.