Those who are linked import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is one amongst 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 the country are one of the major objectives of this organization. To fulfill medicine 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 could 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 of numerous 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 simply be used by numerous trading communities within the country and abroad.
Following is the connected with 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
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 are usually 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 foreign trade in Pakistan. The IEC code can easily 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 in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities from one country yet another. In short it is often a particular number assigned to specific products put to use in describing goods in the import export trading platform.
It issues new trading policies and updates the existing ones- It lays about the Documents required for Import Export Code Registration Online framework upon which traders and companies pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a fresh clause for any preexisting policy, the amendment notification is flashed within internet too. It highly important for all of the people in the international trading community to keep a tab on all these important cards. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a prominent export import database site.