DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are very well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of your major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi could be 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 be easily used by numerous trading communities within the country and abroad.

Following is the report on 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 E.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 that mandate for import export traders include:

Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary desire for any company or venture capitalist needing to do upload in India. The IEC code can sometimes obtained of one’s regional offices by applying through post or via an online application. One can also check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country option. In short it is often a particular number assigned to specific products put to use in describing goods in the import export trading staging.

It issues new trading policies and updates the existing ones- It lays around the required 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, additionally, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed within internet also. It could be very important for all of the persons in the international trading community to have a tab on all these important announcements. You can easily get upgrade announcements of DGFT India on Infodrive India, a top export import database internet page.