DGFT India: Regulating the Import and export Trade of India

Those who are enjoying Import Export Code Online Registration India export trading are aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning under the Ministry of Commerce and Industry, it is one amongst 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 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 – Upload 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 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 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 associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Elizabeth.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 that mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary desire for any company or venture capitalist needing to do move in The indian subcontinent. The IEC code can easily be obtained over the regional offices by applying through post or through 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 be able to products and commodities for import export trading. This code is required while shipping commodities from country an additional. In short it is really a particular number assigned to particular products put to use in describing goods in the import export trading platform.

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

Whenever the Directorate makes any new amendment or introduces a replacement clause to the preexisting policy, the amendment notification is flashed through the internet too. It is very important for all of the persons in the international trading community to keep a tab on all these important reports. You can easily get upgrade announcements of DGFT India on Infodrive India, a respected export import database internet page.