Those who are connected import export trading are very aware of the term DGFT India that is a symbol of Director General of Foreign Trade, India. Functioning your 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 in country are one of your major objectives of this organization. To fulfill the purpose 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 will be 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 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 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 St.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 which usually are mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary necessity for any company or venture capitalist endeavoring to do foreign trade in Sweden. The IEC code can often be obtained from the regional offices by applying through post or with an online application. One additionally be 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 distinctive numerical code assigned to be able to products and commodities for import export trading. This code is required while shipping commodities from one country to an alternative. In short it is a particular number assigned to a particular products useful for describing goods in the import export trading place.
It issues new trading policies and updates the present ones- It lays down the Documents required for Import Export Code Registration Online framework upon which traders and firms pursue cross border forex. Most of the policies and guidelines related to import export trading are framed this particular board. Besides this, in addition, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a new clause to your preexisting policy, the amendment notification is flashed within internet also. It is most important for all of the persons in the international trading community to keep a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a leading export import database net site.