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 underneath the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely given the task of 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 – Upload 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 quite a few 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 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 a lot of activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal A.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 IE Code Registration Online India 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 necessity for any company or venture capitalist needing to do upload in The indian subcontinent. The IEC code can be easily obtained from the regional offices by applying through post or with an online application. One could 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 a good numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities in one country an additional. In short it is a particular number assigned to specific products employed for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and corporations 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 to your preexisting policy, the amendment notification is flashed on the internet as well. It is most important for the members of the international trading community to keep a tab on all these important cards. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database internet page.