08 Nov

DGFT India: Regulating the Export import Trade of India

Those who are involved in import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in country are one of this major objectives of this organization. To fulfill the intention of 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 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 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 Ourite.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Export Code Online Registration India 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 among 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 requirement of any company or venture capitalist endeavoring to do upload in Of india. The IEC code can sometimes obtained of one’s regional offices by applying through post or by using an online form. One could check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities 1 country to an alternative. In short it is often a particular number assigned to particular products useful for describing goods in the import export trading site.

It issues new trading policies and updates the existing ones- It lays around 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 by this board. Besides this, it also 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 through the internet also. It could be very important for all of the people in the international trading community to have a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a prominent export import database domain.