Those who are in the middle of import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is one amongst 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 of the major objectives of this organization. To fulfill the purpose 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 authority. 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 involving 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 E.O. Cell
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Human Resources Development
National Informatics Centre-NIC
dgft IEC Registration Online 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 that mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary demand for any company or venture capitalist wanting to do foreign trade in Of india. The IEC code can easily be obtained from the regional offices by applying through post or with an online application. 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 numerical code assigned to various products and commodities for import export trading. This code is mandatory while shipping commodities in one country option. 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 present ones- It lays around the required framework upon which traders and companies pursue cross border forex trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause to any preexisting policy, the amendment notification is flashed within internet too. It is very important for all of the persons in the international trading community to have a tab on all these important bulletins. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database internet page.