Those who are connected import export trading are aware of the term DGFT India that stands for 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 given the task of 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 the intention of it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi may be the Zonal Office (North Zone) that has nine Regional offices under its authority. 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 places domain that can simply be 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 of man 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 of 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 is really a primary requirement of any company or venture capitalist needing to do foreign trade in Pakistan. The IEC code can often be obtained over the regional offices by applying through post or with an online application form. One additionally be check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to various products and commodities for Import Export Code Online Registration India export trading. This code is required while shipping commodities from one country an additional. In short it is really a particular number assigned to particular products useful for describing goods in the import export trading staging.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and companies 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 the policies.
Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed through the internet also. It could be very important for all the members of the international trading community to keep a tab on all these important posters. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database net site.