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 under the Ministry of Commerce and Industry, it is among 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 country are one from the major objectives of this organization. To fulfill on the road 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 legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of many 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 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 man 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 IE Code Online Registration in India Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some among 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 often a primary desire for any company or venture capitalist trying to do upload in Pakistan. The IEC code can easily be obtained from the regional offices by applying through post or with an online application. One additionally check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities from one country an additional. In short it is often a particular number assigned to a particular products used as describing goods in the import export trading platform.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and firms pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to the preexisting policy, the amendment notification is flashed through the internet as well. It is very important for all the people in the international trading community to keep a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a prominent export import database site.