DGFT India: Regulating the Import export Trade of India

Those who are enjoying import export trading are very aware of the term DGFT India that stands for 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 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 medicine 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 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 areas domain that can be easily 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 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 of this major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary demand for any company or venture capitalist wanting to do move in The indian subcontinent. The IEC code can be obtained in the regional offices by applying through post or through an online application form. One in addition be check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to several products and commodities for Import Export Code Online Registration India export trading. This code is suggested while shipping commodities 1 country to an alternative. In short it is a particular number assigned to particular products used as describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and companies pursue cross border forex. 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 replacement clause to your preexisting policy, the amendment notification is flashed on the internet too. It highly important for the members of the international trading community to have a tab on all these important cards. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database domain.