DGFT India: Regulating the Export import Trade of India

Those who are enjoying import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among 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 the country are one with the major objectives of this organization. To fulfill extra 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 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 sometimes 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 those unfortunate 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 of 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 from the directorate, which is really a primary demand for any company or venture capitalist trying to do upload in Pakistan. The IEC code can sometimes obtained from regional offices by applying through post or by using an online application. One in addition be check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to be able to products and commodities for import export trading. This code is suggested while shipping commodities 1 country yet another. In short it is really a particular number assigned to a particular products employed for describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays along the Documents required for IEC Code Registration India framework upon which traders and corporations pursue cross border getting. 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 your preexisting policy, the amendment notification is flashed by the internet as well. It could be very important for all of the people today the international trading community to keep a tab on all these important reports. You can easily get upgrade announcements of DGFT India on Infodrive India, a top export import database domain.