Those who are involved in import export trading are very aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities a 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 – Upload Policy or the Exim Policy, etc.
The DGFT Delhi may 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 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 numerous 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 the major activities of this authority are usually mandate for import export traders include:
Issue of IEC number – IEC Code Online Application India stands for Importer Exporter Code from the directorate, which can be a primary necessity for any company or venture capitalist wanting to do move in Pakistan. The IEC code can be obtained from the regional offices by applying through post or by using 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 issued by the Directorate is a good numerical code assigned to be able to products and commodities for import export trading. This code is suggested while shipping commodities from country an additional. In short it can be 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 about the required framework upon which traders and corporations pursue cross border forex trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a fresh clause for any preexisting policy, the amendment notification is flashed by the internet too. It could be very important for all of the people today the international trading community to have a tab on all these important bulletins. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database world wide web.