Those who are enjoying import export trading are very well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is one of the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of 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 – Foreign trade Policy or the Exim Policy, etc.
The DGFT Delhi could 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 places domain that can easily be used by numerous trading communities within the country and abroad.
Following is the involving 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 Ourite.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 for the 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 often a primary requirement for any company or venture capitalist seeking to do move in The indian subcontinent. The IEC code can be easily obtained in the regional offices by applying through post or via an online application form. One additionally check for his/her application status on the website of dgft IEC Registration Online India.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities in one country to another. In short it can be a particular number assigned to specific products put to use in describing goods in the import export trading platform.
It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and firms pursue cross border trading. 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 the policies.
Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed within internet as well. It is important for the people today the international trading community to keep a tab on all these important posters. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database internet page.