DGFT India: Regulating the Export import Trade of India

Those who are involved in import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the particular 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 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 – Upload Policy or the Exim Policy, etc.

The DGFT Delhi is 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 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 be used by numerous trading communities within the country and abroad.

Following is the listing of some of the major wings of dgft IE Code Online Application Procedure India India that takes care of man 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 of this major activities of this authority that mandate for import export traders include:

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

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to an alternative. In short it is really a particular number assigned to specific 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 around the required framework upon which traders and firms pursue cross border forex trading. 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 the policies.

Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed through the internet also. It could be very important for all the members of 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 leading export import database site.