08 Nov

DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are very well 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 one of the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in the country are one from the major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. dgft IE Code Online Registration in India Delhi is engaged in providing benefits to the Exporters/Importers by way a lot of 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 Elizabeth.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 among the major activities of this authority that happen to be 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 needing to do move in Sweden. The IEC code can be obtained from regional offices by applying through post or through an online application. One could 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 unique numerical code assigned to numerous products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country an additional. In short it is really a particular number assigned to particular products used for describing goods in the import export trading staging.

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. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces fresh new clause to your preexisting policy, the amendment notification is flashed through the internet too. It is most important to find the people in the international trading community to have a tab on all these important bulletins. You can easily get in case you announcements of DGFT India on Infodrive India, a prominent export import database world wide web.