Those who are in the middle of import export trading are very aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is one of 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 on the road 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 authority. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way quite a few 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 easily be used by numerous trading communities within the country and abroad.
Following is the connected with some of the major wings of DGFT India that takes care of man activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.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 for this 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 really a primary demand for any company or venture capitalist wanting to do move in India. The IEC code can often be obtained in the regional offices by applying through post or with an online application. One could check for his/her application status on the website of dgft IE Code Online Registration in India.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to various products and commodities for import export trading. This code is suggested while shipping commodities from one country to another. In short it is often a particular number assigned to particular products put to use in describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and firms pursue cross border buying and selling. 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 the policies.
Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed on internet too. It is very important for the folks 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 prominent export import database net site.