Those who are involved in import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of this 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 may be the Zonal Office (North Zone) that has nine Regional offices under its legal system. 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 areas domain that can easily be used by numerous trading communities within the country and abroad.
Following is the list of 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 E.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 IE Code Registration Online India Export Oriented Units (EOUs) in India
Some for this major activities of this authority which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary requirement for any company or venture capitalist trying to do upload in Sweden. The IEC code can easily be obtained from the regional offices by applying through post or through 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 from the 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 is a particular number assigned to particular products used as describing goods in the import export trading program.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and companies pursue cross border forex trading. 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 new clause to your preexisting policy, the amendment notification is flashed through the internet as well. It is important for the members of the international trading community to keep a tab on all these important cards. You can easily get upgrade announcements of DGFT India on Infodrive India, a prominent export import database site.