Those who are enjoying import export trading are aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one of the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities a country are one of your major objectives of this organization. To fulfill extra 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 is 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 places domain that can easily be used by numerous trading communities within the country and abroad.

Following is the report on 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 for the major activities of this authority which usually are mandate for import export traders include:

Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code from the directorate, which can be a primary desire for any company or venture capitalist wanting to do move in Of india. The IEC code can often be obtained in the regional offices by applying through post or through an online application. One additionally be check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country an additional. In short it can be a particular number assigned to particular products used for describing goods in the import export trading place.

It issues new trading policies and updates the present ones- It lays around 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, you’ll find it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed on the internet as well. It highly important for all the persons in the international trading community to have a tab on all these important posters. You can easily get the latest announcements of DGFT India on Infodrive India, a respected export import database net site.

DGFT India: Regulating the Export import Trade of India

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