Those who are linked import export trading are aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is considered one of 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 in the country are one of this major objectives of this organization. To fulfill extra it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi is 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 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 sometimes 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 Elizabeth.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 which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary requirement of any company or venture capitalist trying to do move in Of india. The IEC code can often be obtained over the regional offices by applying through post or via an online application form. One can also check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to an alternative. 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 existing ones- It lays about the Documents required for Import Export Code Registration Online framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause to the preexisting policy, the amendment notification is flashed on the internet as well. It could be very important for all of the members of the international trading community to have a tab on all these important cards. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database world wide web.