Those who are in the middle of import export trading are aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one of the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one from the major objectives of this organization. To fulfill extra it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move 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 domain that can sometimes 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 numerous 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 are usually mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary desire for any company or venture capitalist seeking to do move in The indian subcontinent. The IEC code can sometimes obtained of one’s regional offices by applying through post or through an online application form. One additionally be check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to various products and commodities for import export trading. This code is mandatory while shipping commodities from one country an additional. In short it can be a particular number assigned to particular products employed for describing goods in the import export trading staging.
It issues new trading policies and updates the existing ones- It lays around the Documents required for IEC Code Registration India framework upon which traders and companies pursue cross border 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 the policies.
Whenever the Directorate makes any new amendment or introduces a replacement clause to any preexisting policy, the amendment notification is flashed on the internet as well. It is most important for all of the people in the international trading community to keep a tab on all these important announcements. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database site.