DGFT India: Regulating the Export import Trade of India

Those who are involved in import export trading are very well aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the 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 – Move Policy or the Exim Policy, etc.

The DGFT Delhi may 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 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 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 associated with 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 IEC Registration Online India Export Oriented Units (EOUs) in India

Some of this major activities of this authority are usually mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary demand for any company or venture capitalist needing to do foreign trade in Pakistan. The IEC code can easily be obtained over the regional offices by applying through post or via an online application form. One additionally be check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is required while shipping commodities from country to an alternative. In short it is a particular number assigned to specific products used for describing goods in the import export trading staging.

It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and corporations pursue cross border trading. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, you’ll find it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a whole clause for any preexisting policy, the amendment notification is flashed through the internet also. It is important for all of the persons in the international trading community to keep a tab on all these important bulletins. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database world wide web.