Those who are connected import export trading are aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is among the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and Import Export Code Application Online India related activities in the country are one of your major objectives of this organization. To fulfill the intention of 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 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 quite a few 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 used by numerous trading communities within the country and abroad.
Following is the connected with 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 St.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 this major activities of this authority are usually 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 requirement for any company or venture capitalist wanting to do upload in The indian subcontinent. The IEC code can be obtained of one’s regional offices by applying through post or by using an online application. One additionally check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities in one country yet another. In short it can be a particular number assigned to specific products used as describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and corporations pursue cross border buying and selling. 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 whole clause for any preexisting policy, the amendment notification is flashed by the internet too. It highly important for all the members of the international trading community to keep a tab on all these important bulletins. You can easily get upgrade announcements of DGFT India on Infodrive India, a prominent export import database net site.