Those who are linked import export trading are very aware of the term DGFT India that is short for 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 contributing to framing the policies regarding export and import in India. Promoting export and import related activities in country are one of your 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 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 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 sometimes 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
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 for this major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code issued by the directorate, which is really a primary requirement of any company or venture capitalist seeking to do foreign trade in The indian subcontinent. The IEC code can often be obtained of one’s regional offices by applying through post or through an online form. One could 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 in order to products and commodities for import export trading. This code is mandatory while shipping commodities from one country option. In short it can be a particular number assigned to specific products useful for describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border forex trading. 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 guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on internet too. It could be very important to find the members of the international trading community to have a tab on all these important announcements. You can easily get in case you announcements of DGFT India on Infodrive India, a top export import database world wide web.