DGFT India: Regulating the Import export Trade of India

Those who are in the middle of import export trading are aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is considered 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 a country are one of the major objectives of this organization. To fulfill the intention of 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 quite a few 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 connected with some of the major wings of DGFT India that takes care of those unfortunate activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Elizabeth.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 IE Code Online Application Procedure India Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some among the major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which can be a primary requirement for any company or venture capitalist endeavoring to do upload in India. The IEC code can sometimes obtained from the regional offices by applying through post or through an online application form. One additionally be check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is from the numerical code assigned to be able to products and commodities for import export trading. This code is usually recommended while shipping commodities from country to another. In short it can be a particular number assigned to a particular products useful for describing goods in the import export trading program.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and companies pursue cross border forex trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, you’ll find it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a replacement clause to your preexisting policy, the amendment notification is flashed by the internet also. It is important for a lot of the members of the international trading community to keep a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database domain.

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