Those who are linked import export trading are aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of the major objectives of this organization. To fulfill medicine 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 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 places domain that can sometimes used by numerous trading communities within the country and abroad.
Following is the involving 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 Ourite.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 are usually mandate for import export traders include:
Issue of Apply IEC Online India number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary necessity for any company or venture capitalist wanting to do upload in India. The IEC code can be obtained from regional offices by applying through post or through an online application form. One additionally be check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities 1 country an additional. In short it is often a particular number assigned to a particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the existing 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 this particular board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on the internet too. It could be very important for a lot of the members of the international trading community to have a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database internet page.