DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one of the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of your major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi may 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 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 domain that can be easily used by numerous trading communities within the country and abroad.

Following is the involving some of the major wings of DGFT India that takes care associated with 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 which usually are mandate for import export traders include:

Issue of Apply IEC Online India number – IEC stands for Importer Exporter Code from the directorate, which can be a primary requirement of any company or venture capitalist trying to do move in Sweden. The IEC code can be obtained from the regional offices by applying through post or with an online application form. One could check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities 1 country to another. In short it is often a particular number assigned to a particular products put to use in describing goods in the import export trading site.

It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and corporations pursue cross border getting. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause for any preexisting policy, the amendment notification is flashed through the internet also. It is important for all of the people in the international trading community to keep a tab on all these important bulletins. You can easily get in case you announcements of DGFT India on Infodrive India, a major export import database site.