DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is one of the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of 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 – Foreign trade Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its legal system. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way quite a few 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 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 St.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 for this major activities of this authority that are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary requirement of any company or venture capitalist seeking to do upload in Sweden. The IEC code can easily be obtained from the regional offices by applying through post or through an online application. One additionally check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities in one country yet another. In short it is a particular number assigned to particular products useful 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 companies pursue cross border getting. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a whole clause to the preexisting policy, the amendment notification is flashed on 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 the latest announcements of dgft IE Code Registration Online India India on Infodrive India, a top export import database domain.