Those who are in the middle of import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely responsible 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 medicine 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 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 list of 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 St.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 which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is a primary necessity for any company or venture capitalist seeking to do move in The indian subcontinent. The IEC code can be easily obtained from regional offices by applying through post or via an online application. One can also check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to various products and commodities for import export trading. This code is usually recommended while shipping commodities from one country option. In short it is a particular number assigned to specific products used for describing goods in the import export trading staging.
It issues new trading policies and updates the existing ones- It lays down the Documents required for IEC Code Registration India framework upon which traders and firms pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a fresh clause to the preexisting policy, the amendment notification is flashed on the internet too. It is most important for all the people today the international trading community to have a tab on all these important bulletins. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database site.