DGFT India: Regulating the Import export Trade of India
Those who are linked import export trading are very well 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 considered 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 extra 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 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 domain that can easily be used by numerous trading communities within the country and abroad.
Following is the listing of 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 Elizabeth.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 IE Code Online Application Procedure India 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 issued by the directorate, which is really a primary desire for any company or venture capitalist trying to do upload in The indian subcontinent. The IEC code can often be obtained from the regional offices by applying through post or through an online application form. One could check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned in order to products and commodities for import export trading. This code is usually recommended while shipping commodities in one country yet another. In short it can be a particular number assigned to a particular products used as describing goods in the import export trading platform.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and companies pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a whole clause for any preexisting policy, the amendment notification is flashed by the internet also. It highly important to find the persons in the international trading community to have a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database internet page.
