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DGFT India: Regulating the Import and export Trade of India

Those who are enjoying import export trading are well aware of the term DGFT India that represent 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 given the task of 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 extra 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 be easily 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 man activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import 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 are usually 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 requirement for any company or venture capitalist wanting to do foreign trade in The indian subcontinent. The IEC code can be easily obtained over the regional offices by applying through post or by using an online form. One could check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists - HS Codes list from the Directorate is from the numerical code assigned in order to products and commodities for import export trading. This code is required while shipping commodities from one country yet another. In short it is really a particular number assigned to particular products useful for describing goods in the import export trading place.

It issues new trading policies and updates the present ones- It lays around the required framework upon which traders and companies pursue cross border buying and selling. 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 fresh new clause for any preexisting policy, the amendment notification is flashed on internet also. It is very important for all the people today the international trading community to have a tab on all these important cards. You can easily get the latest announcements of dgft IE Code Online Application Procedure India India on Infodrive India, a major export import database site.