DGFT India: Regulating the Export import Trade of India

Those who are connected import export trading are aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the country are one from 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 – Move Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of numerous schemes available as per Export-Import Export Code Application Online India 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 be easily 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 a lot of activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 this major activities of this authority that are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary necessity for any company or venture capitalist seeking to do move in India. The IEC code can often 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 from the Directorate is a good numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities in one country to an alternative. In short it can be a particular number assigned to a particular products useful for describing goods in the import export trading place.

It issues new trading policies and updates the existing ones- It lays down the required framework upon which traders and corporations pursue cross border trading. 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 is most important for all of the members of the international trading community to have a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a respected export import database site.

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