Those who are enjoying import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is one of the most important authorities, which is solely responsible for 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 the purpose 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 legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way various 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 used by numerous trading communities within the country and abroad.
Following is the listing of 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 Ourite.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 the major activities of this authority which usually are mandate for import export traders include:
Issue of IEC number - IEC Code Online Application India stands for Importer Exporter Code issued by the directorate, which is often a primary demand for any company or venture capitalist endeavoring to do upload in India. The IEC code can sometimes obtained of one's regional offices by applying through post or by using an online application. One in addition be check for his/her application status over the website of DGFT.
It maintains and updates HS Code Lists - HS Codes list issued by the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities in one country to another. In short it is really a particular number assigned to a particular products put to use in describing goods in the import export trading platform.
It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and companies pursue cross border trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, you'll find it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause to your preexisting policy, the amendment notification is flashed within internet as well. It is important to find the people in the international trading community to keep a tab on all these important posters. You can easily get the latest announcements of DGFT India on Infodrive India, a prominent export import database internet page.