DGFT India: Regulating the Import export Trade of India

Those who are involved in import export trading are very well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the actual 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 from the major objectives of this organization. To fulfill on the road it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way a lot of schemes available as per Export-Import Export Code Application Online India Policy. The prime objective of this department is to promote or facilitate trade related information, and to provide accurate and reliable information in public areas domain that can be easily 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 associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary necessity for any company or venture capitalist seeking to do move in Sweden. The IEC code can often be obtained in the regional offices by applying through post or through an online application form. One additionally 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 several products and commodities for import export trading. This code is suggested while shipping commodities from one country to an alternative. In short it can be a particular number assigned to a particular products put to use in describing goods in the import export trading site.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and companies pursue cross border trading. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a new clause to the preexisting policy, the amendment notification is flashed by the internet also. It is most important to find the members of the international trading community to have a tab on all these important bulletins. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a prominent export import database net site.