DGFT India: Regulating the Import export Trade of India

Those who are involved in Import Export Code Application Online India export trading are very well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one of the most important authorities, which is solely contributing to 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 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 could be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 domain that can easily 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 associated with 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 for the major activities of this authority that are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary requirement of any company or venture capitalist endeavoring to do move in Of india. The IEC code can often be obtained from regional offices by applying through post or via an online form. One in addition be check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a unique numerical code assigned in order to products and commodities for import export trading. This code is suggested while shipping commodities 1 country to an alternative. In short it can be a particular number assigned to particular products used as describing goods in the import export trading platform.

It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and corporations pursue cross border forex 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 guidelines.

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