Those who are in the middle of import export trading are aware of the term DGFT India that represent 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 contributing to framing the policies regarding export and import in India. Promoting export and import related activities in 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 – Foreign trade Policy or the Exim Policy, etc.
The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of numerous 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 places domain that can 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 of those unfortunate activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.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 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 issued by the directorate, which is often a primary requirement for any company or venture capitalist seeking to do foreign trade in Pakistan. The IEC code can easily be obtained from regional offices by applying through post or with an online form. One in addition be check for his/her application status over the website of dgft IEC Registration Online India.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a unique numerical code assigned to several products and commodities for import export trading. This code is suggested while shipping commodities from one country option. In short it is often a particular number assigned to a particular products used as describing goods in the import export trading platform.
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. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, in addition, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to the preexisting policy, the amendment notification is flashed on internet also. It is important to find the people today the international trading community to have a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a top export import database site.