Those who are enjoying import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of 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 country are one of this major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Foreign trade Policy or the Exim Policy, etc.
The DGFT Delhi may 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 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 places domain that can easily be used by numerous trading communities within the country and abroad.
Following is the report on some of the major wings of DGFT India that takes care of those unfortunate activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Ourite.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 Code Online Application India stands for Importer Exporter Code issued by the directorate, which can be a primary desire for any company or venture capitalist trying to do upload in Pakistan. The IEC code can often be obtained of one’s regional offices by applying through post or by using an online form. One can also check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country option. In short it is a particular number assigned to particular products employed for describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays down the required framework upon which traders and companies pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a new clause for any preexisting policy, the amendment notification is flashed within internet as well. It highly important for all of the people today the international trading community to have a tab on all these important announcements. You can easily get the latest announcements of DGFT India on Infodrive India, a leading export import database domain.