Those who are in the middle of import export trading are very aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is can buy 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 your major objectives of this organization. To fulfill on the road 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 could 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 connected with some of the major wings of DGFT India that takes care of man activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal E.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 are usually 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 desire for any company or venture capitalist endeavoring to do move in Of india. The IEC Code Online Application India code can easily be obtained of one's regional offices by applying through post or by using an online form. One additionally 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 in order to products and commodities for import export trading. This code is mandatory while shipping commodities from country to an alternative. In short it is often a particular number assigned to specific products used for describing goods in the import export trading program.
It issues new trading policies and updates the present ones- It lays down the required framework upon which traders and firms pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, you'll find it regulates the trade by imposing the policies.
Whenever the Directorate makes any new amendment or introduces a fresh clause to your preexisting policy, the amendment notification is flashed by the internet too. It is very important for all of the people today the international trading community to keep a tab on all these important posters. You can easily get upgrade announcements of DGFT India on Infodrive India, a leading export import database net site.