Those who are involved in import export trading are very well aware of the term DGFT India that brief for 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 country are one of the major objectives of this organization. To fulfill medicine 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 authority. 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 areas domain that can be 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 a lot of 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 Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some of the major activities of this authority that are mandate for import export traders include:
Issue of IEC number – Apply IEC Online India stands for Importer Exporter Code issued by the directorate, which is a primary requirement for any company or venture capitalist trying to do upload in The indian subcontinent. The IEC code can often be obtained of one’s regional offices by applying through post or by using an online application. One can also 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 good numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities from one country an additional. In short it is a particular number assigned to a particular products useful for describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and firms pursue cross border trading. 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 a new clause to any preexisting policy, the amendment notification is flashed within internet as well. It could be very important to find the people in the international trading community to keep a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database world wide web.