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DGFT India: Regulating the Import and export Trade of India

Those who are in the middle of import export trading are very well aware of the term dgft IE Code Online Application Procedure India India that stands 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 liable 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 purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example - Upload Policy or the Exim Policy, etc.

The DGFT Delhi will 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 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 places domain that can simply be 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 numerous 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 of this major activities of this authority that mandate for import export traders include:

Issue of IEC number - IEC stands for Importer Exporter Code issued by the directorate, which is really a primary necessity for any company or venture capitalist seeking to do upload in Pakistan. The IEC code can be obtained of one's regional offices by applying through post or with an online form. One could 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 good numerical code assigned to numerous products and commodities for import export trading. This code is required while shipping commodities 1 country yet another. In short it is often a particular number assigned to specific products used for describing goods in the import export trading place.

It issues new trading policies and updates the existing ones- It lays about 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 by this board. Besides this, in addition, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a replacement clause to the preexisting policy, the amendment notification is flashed on the internet as well. It highly important for all the members of 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.