Those who are connected import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the particular 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 associated with country are one from the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi will be the Zonal Office (North Zone) that has nine Regional offices under its legislation. 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 sometimes 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 associated with activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal St.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 that mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary requirement of any company or venture capitalist seeking to do move in The indian subcontinent. The IEC code can be obtained over the regional offices by applying through post or via an online form. One can also check for his/her application status in the website of dgft IEC Registration Online India.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to several products and commodities for import export trading. This code is suggested while shipping commodities from one country to an alternative. In short it is often a particular number assigned to particular products useful for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed through the internet as well. It is important for a lot of the people in the international trading community to have a tab on all these important posters. You can easily get the latest announcements of DGFT India on Infodrive India, a respected export import database internet page.