DGFT India: Regulating the Import export Trade of India
Those who are in the middle of import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is considered 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 associated with country are one of your 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 legal system. 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 simply 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 numerous activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.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 for the major activities of this authority which usually are mandate for import export traders include:
Issue of Apply IEC Online India number – IEC stands for Importer Exporter Code from the directorate, which is often a primary demand for any company or venture capitalist wanting to do upload in The indian subcontinent. The IEC code can often be obtained of one’s regional offices by applying through post or by using an online application form. One additionally 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 a unique numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities from country an additional. In short it is often a particular number assigned to a particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and firms pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a new clause to your preexisting policy, the amendment notification is flashed on the internet as well. It is very important for the persons in the international trading community to have a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a prominent export import database world wide web.
