DGFT India: Regulating the Import export Trade of India
Those who are enjoying import export trading are aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is among the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities in country are one of your major objectives of this organization. To fulfill extra it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi could 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 listing of some of the major wings of DGFT India that takes care of those unfortunate activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal A.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 IE Code Registration Online India 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 from the directorate, which is really a primary requirement for any company or venture capitalist needing to do move in The indian subcontinent. The IEC code can be obtained from regional offices by applying through post or via an online application. One in addition be check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a good numerical code assigned in order to products and commodities for import export trading. This code is required while shipping commodities from one country yet another. In short it is a particular number assigned to specific products put to use in describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and corporations pursue cross border getting. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a fresh clause to your preexisting policy, the amendment notification is flashed on internet also. It is most important for all the persons in the international trading community to have a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a major export import database net site.