DGFT India: Regulating the Import export Trade of India

Those who are in the middle of import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of your 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 may 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 easily be 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 of man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 this major activities of this authority that happen to be mandate for import export traders include:

Issue of Apply IEC Online India number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary requirement of any company or venture capitalist wanting to do move in Of india. The IEC code can often be obtained from the regional offices by applying through post or with an online application form. One in addition be check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities from country yet another. In short it is a particular number assigned to specific products used as describing goods in the import export trading program.

It issues new trading policies and updates the present ones- It lays down 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 by this board. Besides this, you’ll find it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed through the internet too. It is very important for all 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 top export import database internet page.