DGFT India: Regulating the Import and export Trade of India

Those who are involved in import export trading are aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is among the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of this major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi is 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 places domain that can easily 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 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 among the major activities of this authority are usually mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary demand for any company or venture capitalist needing to do move in Of india. The IEC code can be obtained from the regional offices by applying through post or by using an online application form. One can also 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 from the numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities 1 country to an alternative. In short it is a particular number assigned to particular products used for describing goods in the import export trading staging.

It issues new trading policies and updates the existing ones- It lays about the Documents required for IEC Code Registration India framework upon which traders and corporations pursue cross border forex trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a fresh clause for any preexisting policy, the amendment notification is flashed on the internet too. It is most important for all of the people in the international trading community to keep a tab on all these important bulletins. You can easily get upgrade announcements of DGFT India on Infodrive India, a respected export import database site.