DGFT India: Regulating the Export import Trade of India

Those who are enjoying import export trading are very well aware of the term DGFT India that brief for 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 the reason 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 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 could be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 involving some of the major wings of dgft IE Code Online Application Procedure India India that takes care of a lot of activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 among the major activities of this authority that are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary requirement for any company or venture capitalist seeking to do move in Sweden. The IEC code can be easily obtained from the regional offices by applying through post or with 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 issued by the Directorate is a good numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to another. In short it is a particular number assigned to particular products put to use in describing goods in the import export trading place.

It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and corporations pursue cross border forex. 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 guidelines.

Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed within internet too. It is important for all of the members of 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 respected export import database world wide web.