Those who are enjoying import export trading are well 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 given the task of framing the policies regarding export and import in India. Promoting export and import related activities associated with 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 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 easily used by numerous trading communities within the country and abroad.
Following is the list of 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 Ourite.O. Cell
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Human Resources Development
National Informatics Centre-NIC
dgft IE Code Online Registration in India 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 from the directorate, which is often a primary necessity for any company or venture capitalist wanting to do foreign trade in Of india. The IEC code can easily be obtained in the regional offices by applying through post or via an online application form. One can also check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities from one country to an alternative. In short it is often 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 existing ones- It lays around the required framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, in addition, 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 within internet also. It is important for all of the folks the international trading community to keep a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a prominent export import database site.