Those who are involved in import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is one amongst 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 this major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi may be the Zonal Office (North Zone) that has nine Regional offices under its legal system. 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 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 associated with 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 among the major activities of this authority are usually mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is really a primary desire for any company or venture capitalist trying to do upload in Pakistan. The IEC code can often be obtained in the regional offices by applying through post or through 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 issued by the Directorate is from the numerical code assigned to numerous products and commodities for import export trading. This code is Documents required for Import Export Code Registration Online while shipping commodities from one country yet another. In short it can be a particular number assigned to specific products used as describing goods in the import export trading platform.
It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and companies pursue cross border getting. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a fresh clause to the preexisting policy, the amendment notification is flashed by the internet also. It highly important for all of the people in the international trading community to have a tab on all these important bulletins. You can easily get in case you announcements of DGFT India on Infodrive India, a top export import database site.