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DGFT India: Regulating the Import export Trade of India

Those who are linked import export trading are aware of the term DGFT India that brief for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is considered one of 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 with the major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example - Move Policy or the Exim Policy, etc.

The DGFT Delhi will be the Zonal Office (North Zone) that has nine Regional offices under its legislation. 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 list 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 A.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 mandate for import export traders include:

Issue of Apply IEC Online India number - IEC stands for Importer Exporter Code from the directorate, which can be a primary necessity for any company or venture capitalist wanting to do upload in India. The IEC code can easily be obtained of one's regional offices by applying through post or through an online application form. One could check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists - HS Codes list issued by the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is usually recommended while shipping commodities 1 country yet another. In short it is really a particular number assigned to specific products useful for describing goods in the import export trading platform.

It issues new trading policies and updates the present 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 this particular board. Besides this, what's more, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed through the internet as well. It is most important for all the persons in the international trading community to have a tab on all these important announcements. You can easily get in case you announcements of DGFT India on Infodrive India, a prominent export import database internet page.