DGFT India: Regulating the Import export Trade of India

Those who are linked import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities a country are one of the major objectives of this organization. To fulfill extra 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 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 areas domain that can simply be used by numerous trading communities within the country and abroad.

Following is the listing 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 of this major activities of this authority that mandate for import export traders include:

Issue of IEC number – Apply IEC Online India stands for Importer Exporter Code from the directorate, which can be a primary requirement for any company or venture capitalist trying to do move in Sweden. The IEC code can be easily obtained from regional offices by applying through post or by using an online application. One additionally be check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is usually recommended while shipping commodities from country to an alternative. In short it is a particular number assigned to specific products put to use in describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays around the required framework upon which traders and corporations pursue cross border getting. Most of guidelines 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 fresh new clause for any preexisting policy, the amendment notification is flashed within internet too. It is very important for a lot of the folks the international trading community to keep a tab on all these important announcements. You can easily get upgrade announcements of DGFT India on Infodrive India, a prominent export import database net site.