DGFT India: Regulating the Import export Trade of India

Those who are involved in import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the particular 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 a country are one of your major objectives of this organization. To fulfill medicine 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 legal system. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way a lot of 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 of numerous activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 of the 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 requirement for any company or venture capitalist endeavoring to do move in India. The IEC code can be easily obtained over the regional offices by applying through post or by using an online application. One additionally be check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities from country an additional. In short it is often a particular number assigned to specific products useful for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and companies pursue cross border buying and selling. 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 fresh clause for any preexisting policy, the amendment notification is flashed by the internet too. It could be very important for all the folks the international trading community to have a tab on all these important posters. You can easily get consideration announcements of dgft IE Code Registration Online India India on Infodrive India, a prominent export import database net site.