DGFT India: Regulating the Export import Trade of India

Those who are connected import export trading are very aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is considered one of 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 in country are one with 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 – Move Policy or the Exim Policy, etc.

The DGFT Delhi could be 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 a lot of 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 easily be used by numerous trading communities within the country and abroad.

Following is the connected with 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 Licensing

Enforcement cum Adjudication

Statistics Division

Human Resources Development

National Informatics Centre-NIC

DGFT Software Technology Parks in India

dgft IE Code Registration Online India Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some among the major activities of this authority which usually 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 desire for any company or venture capitalist trying to do move in The indian subcontinent. The IEC code can sometimes obtained of one’s regional offices by applying through post or via an online application form. One additionally be check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities from one country yet another. In short it can be a particular number assigned to specific products employed for 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 corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this 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 your preexisting policy, the amendment notification is flashed on internet also. It is most important for all of the people in 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 top export import database site.