Those who are linked import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the 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 of 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 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 areas domain that can be easily 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 of numerous activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Ourite.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 Export Oriented Units (EOUs) in India
Some among the major activities of this authority that 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 needing to do move in The indian subcontinent. The IEC code can be easily obtained from the regional offices by applying through post or by using an online form. One can also check for his/her application status the particular website of dgft IE Code Online Application Procedure India.
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 mandatory while shipping commodities from country yet another. In short it is a particular number assigned to particular products employed for describing goods in the import export trading platform.
It issues new trading policies and updates the present ones- It lays about 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, what’s more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to any preexisting policy, the amendment notification is flashed on the internet also. It is very important to find the people in the international trading community to have a tab on all these important announcements. You can easily get consideration announcements of DGFT India on Infodrive India, a respected export import database site.