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DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are 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 with 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 will 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 be easily used by numerous trading communities within the country and abroad.

Following is the connected with 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 Elizabeth.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 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 really a primary necessity for any company or venture capitalist needing to do foreign trade in India. The IEC code can often be obtained over the regional offices by applying through post or through an online application form. One additionally check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists - HS Codes list from the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is usually recommended while shipping commodities from one country an additional. In short it is often a particular number assigned to particular products useful for describing goods in the import export trading staging.

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

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