DGFT India: Regulating the Import and export Trade of India

Those who are enjoying import export trading are very well aware of the term DGFT India that is short 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 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 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 jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way various 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 simply 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 Ourite.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 among the major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC number – Apply IEC Online India stands for Importer Exporter Code from the directorate, which is really a primary desire for any company or venture capitalist needing to do upload in The indian subcontinent. The IEC code can be easily obtained of one’s regional offices by applying through post or through an online application form. One additionally be 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 several products and commodities for import export trading. This code is usually recommended while shipping commodities in one country to an alternative. In short it can be a particular number assigned to specific products employed for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and firms pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed on internet too. It is most important for all of the folks the international trading community to have a tab on all these important bulletins. You can easily get the latest announcements of DGFT India on Infodrive India, a top export import database net site.