Those who are connected import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is among the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one with the major objectives of this organization. To fulfill medicine 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 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 numerous 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 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 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 for the 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 a primary requirement for any company or venture capitalist endeavoring to do move in Pakistan. The IEC code can often be obtained over the regional offices by applying through post or with an online form. One can also check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique 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 employed for describing goods in the import export trading place.
It issues new trading policies and updates the present 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 by this 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 the preexisting policy, the amendment notification is flashed by the internet also. It highly important for the people today the international trading community to keep a tab on all these important bulletins. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database net site.