Those who are in the middle of import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning your 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 the major objectives of this organization. To fulfill medicine 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 legal system. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way quite a few 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 be used by numerous trading communities within the country and abroad.
Following is the connected with some of the major wings of DGFT India that takes care of a lot of 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 of this major activities of this authority that mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which can be a primary necessity for any company or venture capitalist endeavoring to do move in Of india. The IEC code can be obtained from the regional offices by applying through post or through an online application form. One additionally check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is Documents required for IEC Code Registration India while shipping commodities from country option. In short it is often a particular number assigned to particular products used as describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays about the required framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed by the internet as well. It is important to find the people in the international trading community to keep a tab on all these important announcements. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database internet page.