DGFT India: Regulating the Import export Trade of India

Those who are involved in import export trading are well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one amongst 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 from 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 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 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 sometimes 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 man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal A.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 of the major activities of this authority which usually are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is really a primary necessity for any company or venture capitalist seeking to do upload in Pakistan. The IEC code can sometimes obtained of one’s regional offices by applying through post or via an online form. One additionally check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is usually recommended while shipping commodities from one country to an alternative. In short it can be a particular number assigned to particular products used as describing goods in the import export trading platform.

It issues new trading policies and updates the present ones- It lays about the Documents required for Import Export Code Registration Online framework upon which traders and corporations pursue cross border buying and selling. 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 the policies.

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 posters. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database net site.