DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are 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 one amongst the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the country are one from the major objectives of this organization. To fulfill on the road 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 jurisdiction. 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 easily be 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 St.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 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 for any company or venture capitalist seeking to do upload in The indian subcontinent. The IEC code can be obtained from regional offices by applying through post or with an online application form. One can also check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities from one country yet another. In short it can be a particular number assigned to specific products used 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, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a fresh clause to any preexisting policy, the amendment notification is flashed through the internet as well. It could be very important for all the people today the international trading community to have a tab on all these important reports. You can easily get the latest announcements of dgft IE Code Online Registration in India India on Infodrive India, a major export import database world wide web.