Those who are enjoying import export trading are very aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is can buy the most important authorities, which is solely responsible for framing the policies regarding export and import in India. Promoting export and import related activities in country are one of 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 will 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 of numerous 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 involving 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 Ourite.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 of any company or venture capitalist seeking to do move in India. The IEC code can be obtained from the regional offices by applying through post or by using an online application. One in addition 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 usually recommended while shipping commodities in one country option. In short it is a particular number assigned to particular products used for describing goods in the import export trading program.
It issues new trading policies and updates the existing ones- It lays along the Documents required for IEC Code Registration India 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, what's more, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on the internet as well. It highly important for all the members of the international trading community to have a tab on all these important posters. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a respected export import database site.