Those who are connected import export trading are very 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 among the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities in country are one of the major objectives of this organization. To fulfill the intention of 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 may be 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 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 sometimes 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 Elizabeth.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 the major activities of this authority that are mandate for import export traders include:
Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code issued by the directorate, which is really a primary desire for any company or venture capitalist needing to do move in Sweden. The IEC code can be easily obtained from the regional offices by applying through post or via an online application. One additionally be check for his/her application status in 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 various products and commodities for import export trading. This code is suggested while shipping commodities in one country option. In short it is a particular number assigned to a particular products used for describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and corporations pursue cross border getting. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, in addition, it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a replacement clause for any preexisting policy, the amendment notification is flashed by the internet also. It could be very important to find the people in the international trading community to keep a tab on all these important cards. You can easily get consideration announcements of DGFT India on Infodrive India, a major export import database site.