Those who are connected import export trading are very well aware of the term DGFT India that represent 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 contributing to framing the policies regarding export and import in India. Promoting export and import related activities a country are one of this major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example - Upload Policy or the Exim Policy, etc.
The DGFT Delhi may 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 areas 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 of a lot of activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal A.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 happen to be mandate for import export traders include:
Issue of IEC number - IEC stands for Importer Exporter Code issued by the directorate, which is a primary desire for any company or venture capitalist seeking to do foreign trade in Of india. The Apply IEC Online India code can sometimes obtained from the regional offices by applying through post or by using an online application form. One additionally be check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists - HS Codes list issued by the Directorate is a distinctive numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities from one country yet another. In short it is a particular number assigned to specific products put to use in describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this 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 by the internet also. It highly important for the folks the international trading community to keep a tab on all these important reports. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database domain.