DGFT India: Regulating the Import export Trade of India

Those who are in the middle of import export trading are very well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one of the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in the country are one from the major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.

The DGFT Delhi is 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 many 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 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 numerous 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 which usually are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which can be a primary necessity for any company or venture capitalist seeking to do foreign trade in Sweden. The IEC code can be obtained in the regional offices by applying through post or via an online application. One can also check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a unique numerical code assigned to various products and commodities for import export trading. This code is usually recommended while shipping commodities in one country yet another. In short it can be a particular number assigned to a particular products put to use in describing goods in the import export trading staging.

It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and corporations pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, what’s more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a whole clause for any preexisting policy, the amendment notification is flashed within internet too. It highly important for a lot 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 IE Code Registration Online India India on Infodrive India, a top export import database site.