08 Nov

DGFT India: Regulating the Import and export Trade of India

Those who are enjoying import export trading are 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 the reason for 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 jurisdiction. 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 places domain that can easily be used by numerous trading communities within the country and abroad.

Following is the connected with some of the major wings of DGFT India that takes care of those unfortunate 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 IE Code Online Application Procedure India Software Technology Parks in India

DGFT Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some among the 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 a primary requirement for any company or venture capitalist wanting to do upload in Of india. The IEC code can sometimes obtained from the regional offices by applying through post or by using an online form. One additionally check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to various products and commodities for import export trading. This code is suggested while shipping commodities from one country an additional. In short it is a particular number assigned to specific products used for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and companies pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, in addition, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a fresh clause to your preexisting policy, the amendment notification is flashed through the internet as well. It is very important for all the people today the international trading community to have a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database domain.