Those who are linked import export trading are well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one of the most important authorities, which is solely contributing to 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 – Move Policy or the Exim Policy, etc.
The DGFT Delhi may 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 areas domain that can be easily 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 A.O. Cell
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Human Resources Development
National Informatics Centre-NIC
dgft IE Code Online Application Procedure India Software Technology Parks in India
DGFT Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some of this major activities of this authority that happen to be 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 needing to do upload in India. The IEC code can often be obtained from the regional offices by applying through post or with an online form. One can also check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a good numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities 1 country to an alternative. In short it is often a particular number assigned to specific products useful for describing goods in the import export trading program.
It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and corporations pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to the preexisting policy, the amendment notification is flashed within internet as well. It is important for all the folks the international trading community to have a tab on all these important bulletins. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a prominent export import database site.