DGFT India: Regulating the Import and export Trade of India
Those who are in the middle of import export trading are very aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one amongst 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 in country are one of your major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi will be 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 Policy. The prime objective of this department is to promote or facilitate trade related information, and to provide accurate and reliable information in public domain that can be easily 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 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 of this major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is really a primary requirement of any company or venture capitalist seeking to do upload in Pakistan. The IEC code can sometimes obtained from the regional offices by applying through post or through an online 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 a good numerical code assigned to numerous products and commodities for import export trading. This code is suggested while shipping commodities from country an additional. In short it is often a particular number assigned to a particular products used as describing goods in the import export trading staging.
It issues new trading policies and updates the existing ones- It lays along the Documents required for IEC Code Registration India framework upon which traders and firms pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed through the internet also. It could be very important for the persons in the international trading community to keep a tab on all these important posters. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export import database internet page.
