Those who are involved in import export trading are 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 of 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 a country are one with the major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi could be 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 of numerous schemes available as per Export-Import Export Code Application Online India 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 report on some of the major wings of DGFT India that takes care of numerous activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal E.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 are usually 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 trying to do foreign trade in Sweden. The IEC code can sometimes obtained from regional offices by applying through post or via an online application form. One additionally be check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a distinctive numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities from country an additional. In short it is a particular number assigned to particular products used as describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and firms pursue cross border forex. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed within internet also. It is very important for the people in the international trading community to have a tab on all these important reports. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a leading export import database world wide web.