Uncategorized

DGFT India: Regulating the Export import Trade of India

Those who are in the middle of import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is among 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 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 – Move 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 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 report on 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 St.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Export Code Application Online India 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 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 can be a primary necessity for any company or venture capitalist endeavoring to do upload in Of india. The IEC code can easily be obtained from regional offices by applying through post or by using an online application form. One additionally be 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 in order to products and commodities for import export trading. This code is required while shipping commodities 1 country option. In short it can be a particular number assigned to a particular products used for 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 corporations pursue cross border forex. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, you’ll find it regulates the trade by imposing guidelines.

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