DGFT India: Regulating the Import and export Trade of India

Those who are enjoying import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is among the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import 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 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 various 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 places domain that can easily be 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 of a lot of activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 is really a primary necessity for any company or venture capitalist wanting to do foreign trade in India. The IEC code can often be obtained in the regional offices by applying through post or by using an online application form. One additionally check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a good numerical code assigned to various products and commodities for import export trading. This code is suggested while shipping commodities from one country option. In short it is often a particular number assigned to a particular products put to use in describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays around the Documents required for Import Export Code Registration Online framework upon which traders and firms pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a whole clause to the preexisting policy, the amendment notification is flashed on the internet as well. It is important to find the people today the international trading community to keep a tab on all these important bulletins. You can easily get upgrade announcements of DGFT India on Infodrive India, a top export import database site.