Those who are enjoying import export trading are very aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning underneath the Ministry of Commerce and Industry, it is considered one of the most important authorities, which is solely the reason for framing the policies regarding export and Import Export Code Online Registration India in India. Promoting export and import related activities associated with country are one from 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 – Upload Policy or the Exim Policy, etc.
The DGFT 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 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 places domain that can be easily used by numerous trading communities within the country and abroad.
Following is the list of some of the major wings of DGFT India that takes care associated with 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 of this major activities of this authority that happen to be mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is often a primary necessity for any company or venture capitalist seeking to do foreign trade in India. The IEC code can be easily obtained in the regional offices by applying through post or via an online application. One can also 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 numerical code assigned to numerous products and commodities for import export trading. This code is usually recommended while shipping commodities from one country an additional. In short it can be a particular number assigned to specific products used as describing goods in the import export trading site.
It issues new trading policies and updates the present ones- It lays about the required framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, you’ll find it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces a new clause to the preexisting policy, the amendment notification is flashed by the internet as well. It is important for all of the people in the international trading community to have a tab on all these important bulletins. You can easily get in case you announcements of DGFT India on Infodrive India, a leading export import database internet page.