Those who are enjoying import export trading are well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of this 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 legislation. 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 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 associated with activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal St.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 IEC Registration Online India 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 is often a primary desire for any company or venture capitalist trying to do move in India. The IEC code can easily be obtained in the regional offices by applying through post or by using an online form. One could check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country to another. In short it is really a particular number assigned to a particular products useful for describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and corporations pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed by the internet also. It highly important for the folks the international trading community to have a tab on all these important posters. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database net site.