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DGFT India: Regulating the Import and export Trade of India

Those who are involved in import export trading are very aware of the term DGFT India that is short for 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 given the task of framing the policies regarding export and import in India. Promoting export and import related activities in the 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 IE Code Online Application Procedure India Delhi will 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 of numerous 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 areas domain that can be easily used by numerous trading communities within the country and abroad.

Following is the involving 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 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 for the major activities of this authority that are mandate for import export traders include:

Issue of IEC number - IEC stands for Importer Exporter Code from the directorate, which is often a primary demand for any company or venture capitalist trying to do move in Pakistan. The IEC code can easily be obtained over the regional offices by applying through post or with an online form. One additionally be check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists - HS Codes list from the Directorate is a unique numerical code assigned to various products and commodities for import export trading. This code is required while shipping commodities from one country option. In short it is really a particular number assigned to a particular products put to use in describing goods in the import export trading place.

It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and companies pursue cross border forex trading. Most of guidelines 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 whole clause to the preexisting policy, the amendment notification is flashed within internet also. It is very important for all of the people in the international trading community to have a tab on all these important reports. You can easily get consideration announcements of DGFT India on Infodrive India, a top export import database site.