Those who are enjoying import export trading are very 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 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 a 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 may 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 be easily 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
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
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 that happen to be mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary requirement of any company or venture capitalist endeavoring to do foreign trade in The indian subcontinent. The IEC Code Online Application India code can sometimes obtained of one’s regional offices by applying through post or by using an online application. One can also check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country an additional. In short it can be a particular number assigned to specific products used for describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and firms pursue cross border getting. Most of the policies 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 to any preexisting policy, the amendment notification is flashed on the internet as well. It could be very important for all of the folks the international trading community to have a tab on all these important posters. You can easily get in case you announcements of DGFT India on Infodrive India, a prominent export import database world wide web.