Those who are enjoying import export trading are well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is among the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one with the 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 could be 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 places domain that can be easily used by numerous trading communities within the country and abroad.
Following is the list of 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
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Human Resources Development
National Informatics Centre-NIC
DGFT Software Technology Parks in India
DGFT Special Economic Zones
dgft IE Code Online Registration in India Export Oriented Units (EOUs) in India
Some of the 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 from the directorate, which is a primary demand for any company or venture capitalist seeking to do foreign trade in India. The IEC code can be obtained over the regional offices by applying through post or by using an online application form. 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 from the Directorate is a numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities 1 country yet another. In short it is a particular number assigned to particular products useful for describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a fresh clause for any preexisting policy, the amendment notification is flashed on internet too. It highly important for the people today the international trading community to have a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a respected export import database internet page.