Those who are connected import export trading are very well aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning your 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 associated with 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 – Move 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 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 areas domain that can simply 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 associated with 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 for this major activities of this authority that mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary necessity for any company or venture capitalist seeking to do upload in Sweden. The IEC code can sometimes obtained from the regional offices by applying through post or through an online application. One in addition 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 numerical code assigned to various products and commodities for import export trading. This code is mandatory while shipping commodities from one country to another. In short it can be a particular number assigned to a particular products used for describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays around the Documents required for Import Export Code Registration Online framework upon which traders and companies pursue cross border forex. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a whole clause to any preexisting policy, the amendment notification is flashed on the internet also. It is important for all of the folks the international trading community to keep a tab on all these important announcements. You can easily get the latest announcements of DGFT India on Infodrive India, a respected export import database world wide web.