DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning under the 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 from the major objectives of this organization. To fulfill the purpose 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 authority. dgft IEC Registration Online India 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 list of some of the major wings of DGFT India that takes care of numerous activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 of 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 is really a primary requirement for any company or venture capitalist endeavoring to do move in India. The IEC code can easily be obtained from the regional offices by applying through post or with an online application. One additionally check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities from one country to an alternative. In short it is a particular number assigned to specific products employed for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and corporations pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a new clause for any preexisting policy, the amendment notification is flashed through the internet also. It is most important for all of the folks the international trading community to have a tab on all these important announcements. You can easily get upgrade announcements of DGFT India on Infodrive India, a major export import database domain.