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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 is a symbol of Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is one amongst 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 with 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 - Move Policy or the Exim Policy, etc.

The DGFT Delhi is 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 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 be easily 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 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 for the major activities of this authority that are mandate for import export traders include:

Issue of IEC number - Apply IEC Online India stands for Importer Exporter Code issued by the directorate, which is a primary requirement for any company or venture capitalist trying to do foreign trade in India. The IEC code can easily be obtained in the regional offices by applying through post or by using an online application. One could check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists - HS Codes list from the Directorate is a numerical code assigned in order to products and commodities for import export trading. This code is required while shipping commodities 1 country yet another. In short it is often a particular number assigned to specific products useful for describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays about the required framework upon which traders and companies pursue cross border forex. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a fresh clause to the preexisting policy, the amendment notification is flashed on internet also. It highly important for a lot of the members of the international trading community to keep a tab on all these important cards. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export import database domain.