Those who are enjoying import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning your 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 a country are one of your major objectives of this organization. To fulfill the purpose 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 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 various 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 sometimes used by numerous trading communities within the country and abroad.
Following is the involving 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 E.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 of this major activities of this authority which usually are mandate for import export traders include:
Issue of IEC number – IEC Code Online Application India stands for Importer Exporter Code issued by the directorate, which is a primary requirement for any company or venture capitalist endeavoring to do move in Of india. The IEC code can often be obtained from regional offices by applying through post or through 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 to various products and commodities for import export trading. This code is mandatory while shipping commodities from one country option. In short it is a particular number assigned to a particular products useful for describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and firms pursue cross border forex. 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 fresh clause to any preexisting policy, the amendment notification is flashed by the internet also. It is important to find the people in the international trading community to have a tab on all these important cards. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a respected export import database domain.