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 underneath the Ministry of Commerce and Industry, it is among 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 with 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 may 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 of many 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 places domain that can easily be used by numerous trading communities within the country and abroad.
Following is the report on 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 E.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 of this major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC number – IEC Code Online Application India stands for Importer Exporter Code issued by the directorate, which is a primary desire for any company or venture capitalist trying to do upload in Pakistan. The IEC code can sometimes obtained over the regional offices by applying through post or via an online application. One could check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities from one country to another. In short it is a particular number assigned to specific products useful for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and companies pursue cross border forex. 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 new clause to the preexisting policy, the amendment notification is flashed on internet too. It is very important for all of the folks the international trading community to keep a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database site.