Those who are enjoying import export trading are aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is considered one of 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 this 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 jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way a lot of 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 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
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Human Resources Development
National Informatics Centre-NIC
dgft IE Code Registration Online India Software Technology Parks in India
DGFT Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some for this major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary desire for any company or venture capitalist wanting to do foreign trade in India. The IEC code can easily be obtained of one’s regional offices by applying through post or through an online application form. One additionally check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a good numerical code assigned in order to products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country an additional. In short it can be a particular number assigned to a particular products employed for describing goods in the import export trading program.
It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and corporations pursue cross border trading. Most of guidelines 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 fresh new clause to the preexisting policy, the amendment notification is flashed by the internet too. It could be very important for all 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 major export import database domain.