Those who are linked import export trading are very well aware of the term DGFT India that stands 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 contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of your major objectives of this organization. To fulfill medicine 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 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 numerous 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 be easily used by numerous trading communities within the country and abroad.
Following is the list 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 Elizabeth.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 which usually 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 requirement for any company or venture capitalist seeking to do upload in Sweden. The IEC code can often be obtained over the regional offices by applying through post or by using an online application form. One additionally check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned in order to products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country yet another. In short it is a particular number assigned to specific products put to use in describing goods in the Import Export Code Online Registration India export trading place.
It issues new trading policies and updates the present ones- It lays over the required framework upon which traders and corporations pursue cross border forex. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, it also 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 internet as well. It is important for a lot 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 prominent export import database domain.