DGFT India: Regulating the Import and export Trade of India

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

The DGFT Delhi will be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 places domain that can sometimes 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 man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 that mandate for Import Export Code Application Online India 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 needing to do move in India. The IEC code can sometimes obtained over the regional offices by applying through post or via an online form. One additionally check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities from one country yet another. In short it is really a particular number assigned to specific products put to use in describing goods in the import export trading program.

It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and firms pursue cross border trading. 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 replacement clause to any preexisting policy, the amendment notification is flashed through the internet also. It is most important for all the people today the international trading community to have a tab on all these important announcements. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database site.