DGFT India: Regulating the Import and export Trade of India

Those who are connected import export trading are well aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of the major objectives of this organization. To fulfill on the road 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 could 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 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 areas domain that can easily be 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 a lot of 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 Export Code Online Registration India 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 this major activities of this authority are usually mandate for import export traders include:

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

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country yet another. In short it is really a particular number assigned to particular products useful for describing goods in the import export trading site.

It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and corporations pursue cross border getting. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed through the internet as well. It is important for all the members of 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 major export import database world wide web.