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DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely liable for framing the policies regarding export and Import Export Code Online Registration India in India. Promoting export and import related activities in 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 - Upload 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 many 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 domain that can simply 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 associated with 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 that mandate for import export traders include:

Issue of IEC number - IEC stands for Importer Exporter Code from the directorate, which is really a primary requirement for any company or venture capitalist needing to do upload in Of india. The IEC code can sometimes obtained over the regional offices by applying through post or via an online application. One additionally be check for his/her application status the particular website of DGFT.

It maintains and updates HS Code Lists - HS Codes list issued by the Directorate is a distinctive numerical code assigned in order to products and commodities for import export trading. This code is mandatory while shipping commodities in one country to an alternative. In short it is a particular number assigned to particular products useful for describing goods in the import export trading platform.

It issues new trading policies and updates the existing 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 this particular board. Besides this, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces fresh new clause to your preexisting policy, the amendment notification is flashed within internet also. It is most important for a lot of the persons in the international trading community to have a tab on all these important reports. You can easily get the latest announcements of DGFT India on Infodrive India, a major export import database world wide web.