Those who are linked import export trading are aware of the term DGFT India that represent 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 contributing to 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 medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.
The DGFT Delhi could 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 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 domain that can 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 a lot of 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 of 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 can be a primary requirement for any company or venture capitalist seeking to do move in Of india. The IEC code can easily be obtained in the regional offices by applying through post or with an online application. One additionally check for his/her application status your website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities in one country to an alternative. In short it is really a particular number assigned to a particular products used as describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays about the required framework upon which traders and firms pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, in addition, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to the preexisting policy, the amendment notification is flashed by the internet as well. It is most important for a lot of the people today 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 top export import database net site.