Those who are involved in import export trading are very well aware of the term DGFT India that brief 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 associated with country are one of your major objectives of this organization. To fulfill on the road 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 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 places domain that can simply be used by numerous trading communities within the country and abroad.
Following is the connected with 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 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 for 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 really a primary desire for any company or venture capitalist wanting to do upload in India. The IEC code can be obtained from regional offices by applying through post or via an online form. One additionally be check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists - HS Codes list issued by the Directorate is a good numerical code assigned to be able to products and commodities for import export trading. This code is suggested while shipping commodities from country to an alternative. In short it is often a particular number assigned to particular products employed for describing goods in the import export trading site.
It issues new trading policies and updates the existing ones- It lays around the required framework upon which traders and firms pursue cross border forex trading. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, it also regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a fresh clause to your preexisting policy, the amendment notification is flashed on the internet also. It is most important for all the folks the international trading community to have a tab on all these important cards. You can easily get in case you announcements of DGFT India on Infodrive India, a respected export Import Export Code Online Registration India database domain.