DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are well 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 one of 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 in the country are one of this major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi could 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 a lot of 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 simply be used by numerous trading communities within the country and abroad.

Following is the listing of 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 E.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 are 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 demand for any company or venture capitalist wanting to do foreign trade in Of india. The IEC code can often be obtained of one’s regional offices by applying through post or with an online application form. One could check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities from country option. In short it is a particular number assigned to a particular products useful for describing goods in the import export trading site.

It issues new trading policies and updates the present ones- It lays down the Documents required for IEC Code Registration India framework upon which traders and corporations pursue cross border getting. 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 fresh new clause for any preexisting policy, the amendment notification is flashed on internet also. It is very important for a lot of the people today the international trading community to keep a tab on all these important announcements. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export import database internet page.