Those who are connected import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for 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 is 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 numerous 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 connected with some of the major wings of DGFT India that takes care of numerous activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.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 this major activities of this authority which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary necessity for any company or venture capitalist trying to do upload in Of india. The IEC code can easily be obtained from regional offices by applying through post or by using an online form. One can also check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a good numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities 1 country to an alternative. In short it is really a particular number assigned to particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays down the Documents required for IEC Code Registration India framework upon which traders and corporations pursue cross border forex. 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 the policies.
Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed on the internet also. It is very important for the folks the international trading community to keep a tab on all these important bulletins. You can easily get consideration announcements of DGFT India on Infodrive India, a respected export import database net site.