Those who are enjoying 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 can buy 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 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 – Move Policy or the Exim Policy, etc.
The DGFT Delhi may 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 various 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 be easily used by numerous trading communities within the country and abroad.
Following is the listing of some of the major wings of DGFT India that takes care of those unfortunate 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 the major activities of this authority that happen to be mandate for Import Export Code Application Online India export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is really a primary demand for any company or venture capitalist endeavoring to do foreign trade in Of india. The IEC code can often be obtained over the regional offices by applying through post or with an online application form. One additionally be check for his/her application status the particular website of DGFT.
It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to be able to products and commodities for import export trading. This code is mandatory while shipping commodities in one country an additional. In short it can be a particular number assigned to a particular products put to use in describing goods in the import export trading program.
It issues new trading policies and updates the present ones- It lays along the required framework upon which traders and corporations pursue cross border forex trading. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a whole clause to any preexisting policy, the amendment notification is flashed on internet also. It is most important for all of the people today the international trading community to have a tab on all these important announcements. You can easily get consideration announcements of DGFT India on Infodrive India, a major export import database domain.