DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is one of the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities a country are one from the major objectives of this organization. To fulfill the intention of 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 legislation. 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 domain that can simply 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 associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 the major activities of this authority which usually are mandate for import export traders include:

Issue of IEC number – IEC Code Online Application India stands for Importer Exporter Code from the directorate, which is really a primary requirement of any company or venture capitalist wanting to do move in Sweden. The IEC code can sometimes obtained from the regional offices by applying through post or with an online application form. One could check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities in one country option. In short it can be a particular number assigned to particular products useful for describing goods in the import export trading place.

It issues new trading policies and updates the present ones- It lays about the required framework upon which traders and companies pursue cross border buying and selling. 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 guidelines.

Whenever the Directorate makes any new amendment or introduces a fresh clause to the preexisting policy, the amendment notification is flashed through the internet as well. It could be very important for all of the people today the international trading community to keep a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a major export import database internet page.