DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are very aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is among the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in country are one of the 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 is the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 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 those unfortunate activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Export Code Application Online India Licensing

Enforcement cum Adjudication

Statistics Division

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 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 from the directorate, which can be a primary requirement for any company or venture capitalist needing to do foreign trade in India. The IEC code can often be obtained of one’s regional offices by applying through post or through an online application. One can also 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 several products and commodities for import export trading. This code is usually recommended while shipping commodities from one country option. In short it is a particular number assigned to a particular products put to use in describing goods in the import export trading site.

It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and companies pursue cross border trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed through the internet as well. It is most important for all the persons in the international trading community to have a tab on all these important cards. You can easily get upgrade announcements of DGFT India on Infodrive India, a top export import database site.

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