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 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 associated with country are one from the major objectives of this organization. To fulfill on the road 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 could be the Zonal Office (North Zone) that has nine Regional offices under its legal system. 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 places domain that can simply be used by numerous trading communities within the country and abroad.
Following is the involving some of the major wings of DGFT India that takes care of a lot of activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal St.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 IE Code Online Registration in India 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 issued by the directorate, which is often a primary demand for any company or venture capitalist wanting to do upload in Sweden. The IEC code can sometimes obtained from the regional offices by applying through post or with an online application form. One additionally 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 various products and commodities for import export trading. This code is usually recommended while shipping commodities in one country option. In short it can be a particular number assigned to specific products used as describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and firms pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on internet also. It is most important for all the members of the international trading community to keep a tab on all these important announcements. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database internet page.