DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is can buy 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 of this major objectives of this organization. To fulfill on the road it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi will 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 quite a few 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 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 man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Elizabeth.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 which usually are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is really a primary desire for any company or venture capitalist endeavoring to do upload in Of india. The IEC code can be easily obtained of one’s regional offices by applying through post or with an online application form. One in addition 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 from the numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities 1 country to an alternative. In short it can be a particular number assigned to particular products used as describing goods in the import export trading staging.

It issues new trading policies and updates the present ones- It lays along the Documents required for Import Export Code Registration Online 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, you’ll find it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed on the internet as well. It is important to find the people in the international trading community to have 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 domain.