DGFT India: Regulating the Export import Trade of India

Those who are involved in import export trading are very 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 among 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 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 – Upload Policy or the Exim Policy, etc.

The DGFT Delhi may 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 many 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 sometimes used by numerous trading communities within the country and abroad.

Following is the list of some of the major wings of DGFT India that takes care of man 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 for the major activities of this authority that are mandate for import export traders include:

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

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned to several products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country to an alternative. In short it is a particular number assigned to a particular products put to use in describing goods in the import export trading platform.

It issues new trading policies and updates the existing ones- It lays over 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, what’s more, 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 through the internet as well. It is important to find the people in the international trading community to keep a tab on all these important posters. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a top export import database world wide web.