Those who are in the middle of import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is among the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in country are one of 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 could be 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 places domain that can be easily 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 associated with activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.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 IEC Registration Online India 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 issued by the directorate, which can be a primary necessity for any company or venture capitalist endeavoring to do foreign trade in Pakistan. The IEC code can sometimes obtained over the regional offices by applying through post or through an online application. 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 a unique numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities in one country yet another. In short it can be a particular number assigned to specific products employed for describing goods in the import export trading staging.
It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and corporations pursue cross border forex trading. Most of the policies 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 whole clause to any preexisting policy, the amendment notification is flashed within internet as well. It is very important for the members of the international trading community to keep a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database world wide web.