Those who are in the middle of import export trading are well aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning underneath the 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 country are one of this major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload 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 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 places domain that can sometimes 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 associated with 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 Export Oriented Units (EOUs) in India
Some among the major activities of this authority that are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary requirement for any company or venture capitalist wanting to do upload in Sweden. The IEC code can often be obtained from the regional offices by applying through post or through an online form. One could check for his/her application status your 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 Code Application Online India export trading. This code is mandatory while shipping commodities from country option. In short it is a particular number assigned to specific products used for describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays around the required framework upon which traders and companies pursue cross border getting. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, additionally, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause to any preexisting policy, the amendment notification is flashed through the internet too. It highly important for all of the people in the international trading community to have a tab on all these important announcements. You can easily get the latest announcements of DGFT India on Infodrive India, a leading export import database domain.