Those who are enjoying import export trading are aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one of this major objectives of this organization. To fulfill extra 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 jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way a lot of 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 be easily 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 a lot of 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 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 endeavoring to do foreign trade in Of india. The IEC Code Online Application India code can sometimes obtained from regional offices by applying through post or by using an online application. One additionally be check for his/her application status in 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 several products and commodities for import export trading. This code is suggested while shipping commodities from country yet another. In short it is a particular number assigned to a particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays down the required framework upon which traders and firms pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to any preexisting policy, the amendment notification is flashed on the internet too. It is important to find the people today the international trading community to keep a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database internet page.