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DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are well aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is among the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of your 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 jurisdiction. 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 simply 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 a lot of 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 IE Code Registration Online India Export Oriented Units (EOUs) in India

Some for this 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 can be a primary requirement for any company or venture capitalist trying to do foreign trade in Pakistan. The IEC code can often be obtained in the regional offices by applying through post or by using an online application. One could check for his/her application status over the website of DGFT.

It maintains and updates HS Code Lists - HS Codes list from the Directorate is a numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities from country an additional. In short it can be a particular number assigned to particular products used as describing goods in the import export trading staging.

It issues new trading policies and updates the present ones- It lays over the required 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, in addition, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a whole clause to your preexisting policy, the amendment notification is flashed on the internet as well. It highly important for a lot of the members of the international trading community to keep a tab on all these important bulletins. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database net site.