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DGFT India: Regulating the Import and export Trade of India

Those who are enjoying Import Export Code Online Registration India export trading are well 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 contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the country are one with the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Foreign trade Policy or the Exim Policy, etc.

The DGFT Delhi could 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 many 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 easily be used by numerous trading communities within the country and abroad.

Following is the report on 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

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Licensing

Enforcement cum Adjudication

Statistics Division

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 for the major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary desire for any company or venture capitalist endeavoring to do move in India. The IEC code can be obtained from the regional offices by applying through post or through an online application. One additionally check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to be able to 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 specific products used as describing goods in the import export trading staging.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and firms pursue cross border trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause for any preexisting policy, the amendment notification is flashed through the internet too. It is very important for a lot of the members of the international trading community to keep a tab on all these important bulletins. You can easily get the latest announcements of DGFT India on Infodrive India, a major export import database domain.