Those who are involved in import export trading are very well 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 given the task of framing the policies regarding export and import in India. Promoting export and import related activities in country are one from the major objectives of this organization. To fulfill extra it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload 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 various 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 associated with activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal St.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 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 really a primary requirement of any company or venture capitalist trying to do foreign trade in The indian subcontinent. The IEC code can easily be obtained from the regional offices by applying through post or through an online form. One in addition be check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities 1 country an additional. In short it is really a particular number assigned to a particular products useful for describing goods in the import export trading platform.
It issues new trading policies and updates the present ones- It lays along 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 this particular 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 within internet too. It is important for all of the people in the international trading community to have a tab on all these important bulletins. You can easily get consideration announcements of DGFT India on Infodrive India, a major export import database internet page.