Those who are in the middle of import export trading are well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of the major objectives of this organization. To fulfill on the road it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload 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 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 domain that can simply be used by numerous trading communities within the country and abroad.
Following is the involving some of the major wings of DGFT India that takes care associated with 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 Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some among the major activities of this authority that are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary demand for any company or venture capitalist needing to do move in Of india. The IEC code can sometimes obtained in the regional offices by applying through post or with an online application form. One additionally be check for his/her application status in the website of dgft IE Code Online Registration in India.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a good numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to another. In short it can be a particular number assigned to particular products used as describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and companies pursue cross border forex trading. 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 guidelines.
Whenever the Directorate makes any new amendment or introduces a new clause to your preexisting policy, the amendment notification is flashed within internet as well. It is very important for all of the persons in the international trading community to have a tab on all these important reports. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database world wide web.