DGFT India: Regulating the Import and export Trade of India

Those who are connected import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely liable for 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 medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of numerous 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 sometimes 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 a lot of activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.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 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 can be a primary requirement of any company or venture capitalist seeking to do move in India. The Apply IEC Online India code can often be obtained from the regional offices by applying through post or through an online application 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 unique numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities from country an additional. In short it is really a particular number assigned to particular products put to use in describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays about the required framework upon which traders and firms pursue cross border forex 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 the policies.

Whenever the Directorate makes any new amendment or introduces a replacement clause to the preexisting policy, the amendment notification is flashed by the internet too. It is most important to find the persons in the international trading community to keep a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database domain.