DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi will be 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 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 be easily 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 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 IEC Registration Online India 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 mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary necessity for any company or venture capitalist trying to do move in India. The IEC code can often be obtained from the regional offices by applying through post or via an online application. One in addition be check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to various products and commodities for import export trading. This code is mandatory while shipping commodities from one country option. In short it is really a particular number assigned to a particular products used for describing goods in the import export trading program.

It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and firms pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed by the internet too. It highly important for all of the folks the international trading community to keep a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database site.