DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are aware of the term DGFT India that brief for 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 the country are one of your major objectives of this organization. To fulfill on the road 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 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 areas domain that can simply 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 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 for this major activities of this authority are usually mandate for import export traders include:

Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code from the directorate, which is often a primary desire for any company or venture capitalist trying to do move in Sweden. The IEC code can often be obtained over the regional offices by applying through post or by using an online form. 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 good numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities from 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 staging.

It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and companies pursue cross border forex 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 replacement clause to your preexisting policy, the amendment notification is flashed through the internet also. It is very important to find the people today 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 domain.