Those who are in the middle of import export trading are well aware of the term DGFT India that stands for 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 responsible for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one from 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 is 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 various 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 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 those unfortunate 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 Software Technology Parks in India
dgft IEC Registration Online India 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 IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary requirement of any company or venture capitalist seeking to do move in Of india. The IEC code can be easily obtained from regional offices by applying through post or by using an online application form. One could check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities 1 country option. In short it is really a particular number assigned to particular products put to use in describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays down 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 guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to your preexisting policy, the amendment notification is flashed on internet as well. It could be very important to find the persons in the international trading community to keep a tab on all these important bulletins. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database domain.