DGFT India: Regulating the Import and export Trade of India

Those who are involved in import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of your 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 could be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 used by numerous trading communities within the country and abroad.

Following is the connected with some of the major wings of dgft IE Code Online Registration in India India that takes care of numerous activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 Export Oriented Units (EOUs) in India

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

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary requirement for any company or venture capitalist wanting to do foreign trade in The indian subcontinent. The IEC code can often be obtained in the regional offices by applying through post or with an online application form. One can also check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned to be able to products and commodities for import export trading. This code is suggested while shipping commodities from country to another. In short it can be a particular number assigned to specific products useful for describing goods in the import export trading place.

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 guidelines and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause for any preexisting policy, the amendment notification is flashed on the internet also. It highly important for a lot of the folks the international trading community to have a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database internet page.