Those who are connected import export trading are very aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of the major objectives of this organization. To fulfill extra it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi may 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 quite a few 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 places domain that can easily be used by numerous trading communities within the country and abroad.
Following is the listing of 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 A.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 Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some among the 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 issued by the directorate, which is a primary necessity for any company or venture capitalist trying to do move in Sweden. The IEC code can easily be obtained from the regional offices by applying through post or with an online application. One additionally check for his/her application status in 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 numerous products and commodities for import export trading. This code is mandatory while shipping commodities from country option. In short it is a particular number assigned to a particular products used for describing goods in the import export trading program.
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 companies pursue cross border getting. 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 guidelines.
Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed on the internet too. It could be very important for a lot of the people today the international trading community to keep a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database internet page.