DGFT India: Regulating the Import export Trade of India

Those who are involved in import export trading are very aware of the term DGFT India that brief for 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 Export Code Online Registration India in India. Promoting export and import related activities in country are one with the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi may be the Zonal Office (North Zone) that has nine Regional offices under its legislation. 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 places domain that can 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 E.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 – IEC stands for Importer Exporter Code from the directorate, which is really a primary demand for any company or venture capitalist trying to do foreign trade in The indian subcontinent. The IEC code can often be obtained of one’s regional offices by applying through post or through an online form. 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 issued by the Directorate is a distinctive numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to an alternative. In short it can be a particular number assigned to specific products useful for describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and companies pursue cross border forex. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a replacement clause to the preexisting policy, the amendment notification is flashed through the internet too. It is important to find the members of the international trading community to have a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a respected export import database net site.