Those who are in the middle of import export trading are well aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is among 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 your 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 could be 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 of numerous 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 simply be used by numerous trading communities within the country and abroad.
Following is the connected with 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
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 mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is really a primary requirement of any company or venture capitalist needing to do foreign trade in India. The IEC code can be easily obtained over the regional offices by applying through post or by using an online application form. One in addition be 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 from the numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities 1 country an additional. In short it is a particular number assigned to particular products useful for describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays down the required framework upon which traders and companies pursue cross border forex. Most of guidelines and guidelines related to Import Export Code Online Registration India export trading are framed this particular board. Besides this, it also regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed through the internet also. It is very important for a lot of the folks the international trading community to keep a tab on all these important announcements. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database internet page.