Those who are connected import export trading are well aware of the term DGFT India that represent 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 your 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 is the Zonal Office (North Zone) that has nine Regional offices under its legislation. 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 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 man 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 IEC Registration Online India Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some for the major activities of this authority that mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary demand for any company or venture capitalist needing to do upload in Pakistan. The IEC code can be obtained from regional offices by applying through post or through an online application. One can also check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is suggested while shipping commodities in one country to another. In short it is really a particular number assigned to particular products put to use in describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and firms pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed within internet also. It is important for the people today the international trading community to keep a tab on all these important announcements. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database world wide web.