Those who are enjoying import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the actual 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 associated with country are one of your major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi will 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 a lot of 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 areas domain that can sometimes 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 man activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal E.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 IEC Registration Online India Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some of this major activities of this authority which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is really a primary desire for any company or venture capitalist wanting to do upload in Pakistan. The IEC code can sometimes obtained from regional offices by applying through post or via an online form. One additionally check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a good numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities from one country to an alternative. In short it is often a particular number assigned to a particular products useful for describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and companies pursue cross border buying and selling. 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 whole clause to your preexisting policy, the amendment notification is flashed within internet too. It is very important for all of the people in the international trading community to keep a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database domain.