Those who are connected import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely liable for framing the policies regarding export and import in India. Promoting export and import related activities associated with country are one from the 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 is the Zonal Office (North Zone) that has nine Regional offices under its authority. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of many 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 domain that can sometimes used by numerous trading communities within the country and abroad.
Following is the list of 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 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 of this 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 can be a primary requirement for any company or venture capitalist needing to do foreign trade in India. The IEC code can be obtained from the regional offices by applying through post or via an online application form. One can also check for his/her application status in the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a unique numerical code assigned to numerous products and commodities for import export trading. This code is mandatory while shipping commodities in one country yet another. In short it is really a particular number assigned to a particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and companies pursue cross border trading. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, what’s more, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a new clause to any preexisting policy, the amendment notification is flashed by the internet too. It is very important for all of the people today the international trading community to keep a tab on all these important cards. You can easily get achievable will give you announcements of dgft IE Code Online Registration in India India on Infodrive India, a major export import database internet page.