DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is can buy 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 the major objectives of this organization. To fulfill extra 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 domain that can simply be used by numerous trading communities within the country and abroad.

Following is the involving 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 are usually mandate for import export traders include:

Issue of Apply IEC Online India number – IEC stands for Importer Exporter Code from the directorate, which can be a primary necessity for any company or venture capitalist needing to do move in Pakistan. The IEC code can be obtained of one’s regional offices by applying through post or via an online application. One can also check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities from country an additional. In short it is often a particular number assigned to specific 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 corporations pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces fresh new clause to your preexisting policy, the amendment notification is flashed through the internet too. It could be very important to find the people today the international trading community to keep a tab on all these important announcements. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a prominent export import database site.