Those who are enjoying import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in country are one from the major objectives of this organization. To fulfill the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi is 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 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 involving 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 E.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 of the 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 is really a primary desire for any company or venture capitalist needing to do move in Pakistan. The IEC code can be obtained of one’s regional offices by applying through post or by using an online form. One could 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 unique numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities 1 country an additional. In short it is a particular number assigned to particular products used for describing goods in the Import Export Code Application Online India export trading place.
It issues new trading policies and updates the existing ones- It lays over 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, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a whole clause for any preexisting policy, the amendment notification is flashed through the internet also. It is very important for all the persons in the international trading community to have a tab on all these important bulletins. You can easily get upgrade announcements of DGFT India on Infodrive India, a prominent export import database domain.