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 stands for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely liable for 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 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 will 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 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 places 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 associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.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 among the major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC number – Apply IEC Online India stands for Importer Exporter Code from the directorate, which is often a primary desire for any company or venture capitalist endeavoring to do foreign trade in Pakistan. The IEC code can easily be obtained from the regional offices by applying through post or by using an online application 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 unique numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to an alternative. In short it can be a particular number assigned to specific products put to use in describing goods in the import export trading place.

It issues new trading policies and updates the existing ones- It lays around the required framework upon which traders and corporations pursue cross border trading. Most of the policies 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 fresh new clause to your preexisting policy, the amendment notification is flashed on the internet too. It is important for the people in the international trading community to have a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database net site.