Those who are involved in import export trading are aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning the particular 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 related activities a country are one of the major objectives of this organization. To fulfill the purpose 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 is 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 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 areas domain that can simply 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 numerous activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal E.O. Cell
Policy Research and Analysis
Restricted Import Export Code Application Online India 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 that are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which can be a primary necessity for any company or venture capitalist needing to do foreign trade in Pakistan. The IEC code can be easily obtained over the regional offices by applying through post or via an online form. One could 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 distinctive numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities from country an additional. In short it can be a particular number assigned to a particular products used for describing goods in the import export trading program.
It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and firms pursue cross border getting. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed on the internet also. It is important for the folks the international trading community to have a tab on all these important posters. You can easily get in case you announcements of DGFT India on Infodrive India, a prominent export import database internet page.