DGFT India: Regulating the Import export Trade of India

Those who are in the middle of import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and Import Export Code Application Online India related activities in country are one with the major objectives of this organization. To fulfill on the road it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi will 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 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 be used by numerous trading communities within the country and abroad.

Following is the report on 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

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 among the major activities of this authority are usually mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary demand for any company or venture capitalist seeking to do move in The indian subcontinent. The IEC code can often be obtained from the regional offices by applying through post or with an online form. One can also 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 from the numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities 1 country to another. In short it can be a particular number assigned to specific products employed for describing goods in the import export trading place.

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

Whenever the Directorate makes any new amendment or introduces a fresh clause for any preexisting policy, the amendment notification is flashed on internet as well. It is important for the persons in the international trading community to keep a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database site.