DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in 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 – Upload Policy or the Exim Policy, etc.

The DGFT Delhi could be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 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 man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 mandate for Import Export Code Online Registration India export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which can be a primary desire for any company or venture capitalist trying to do upload in Of india. The IEC code can 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 the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities from country to an alternative. In short it is a particular number assigned to particular products employed for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and corporations pursue cross border getting. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, additionally, 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 on the internet as well. It highly important for a lot of the persons in the international trading community to have a tab on all these important posters. You can easily get the latest announcements of DGFT India on Infodrive India, a leading export import database domain.