DGFT India: Regulating the Export import Trade of India

Those who are in the middle of import export trading are well aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among 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 a country are one of this major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi could be the Zonal Office (North Zone) that has nine Regional offices under its authority. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way various 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 easily be used by numerous trading communities within the country and abroad.

Following is the involving some of the major wings of DGFT India that takes care of those unfortunate activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.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 of this major activities of this authority that 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 requirement of any company or venture capitalist trying to do foreign trade in Sweden. The IEC code can sometimes obtained from regional offices by applying through post or with an online form. One in addition be check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities from country to an alternative. In short it is really a particular number assigned to a particular products put to use in describing goods in the import export trading program.

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

Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed within internet too. It highly important to find the people in the international trading community to have a tab on all these important announcements. You can easily get consideration announcements of dgft IE Code Registration Online India India on Infodrive India, a major export import database internet page.