DGFT India: Regulating the Export import Trade of India

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 the actual Ministry of Commerce and Industry, it is one of the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities in the 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 legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way quite a few schemes available as per Export-Import Export Code Online Registration 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 simply be 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 those unfortunate activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal St.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 Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some of the major activities of this authority which usually are mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is really a primary requirement of any company or venture capitalist endeavoring to do foreign trade in Sweden. The IEC code can often be obtained over the regional offices by applying through post or with an online application form. One can also 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 good numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to another. In short it is often a particular number assigned to a particular products put to use in describing goods in the import export trading place.

It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, it also regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed through the internet also. It is very important for a lot of the people today the international trading community to keep a tab on all these important announcements. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a major export import database domain.

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