DGFT India: Regulating the Import and export Trade of India
Those who are in the middle of import export trading are well aware of the term DGFT India that is short for Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely contributing to framing the policies regarding export and import in India. Promoting export and import related activities in the country are one of the major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Foreign trade Policy or the Exim Policy, etc.
The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its legal system. dgft IE Code Registration Online India Delhi is engaged in providing benefits to the Exporters/Importers by way various 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 areas domain that can be easily 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 associated with activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal St.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 are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary demand for any company or venture capitalist endeavoring to do upload in Sweden. The IEC code can sometimes obtained in the regional offices by applying through post or by using an online application. One could 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 numerous products and commodities for import export trading. This code is required while shipping commodities from country an additional. In short it can be a particular number assigned to a particular products used as describing goods in the import export trading staging.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and corporations pursue cross border getting. 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 guidelines.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed on internet also. It highly important for the people in the international trading community to keep a tab on all these important posters. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export import database site.