DGFT India: Regulating the Export import Trade of India

Those who are linked import export trading are very well aware of the term dgft IE Code Online Application Procedure India India that brief for Director General of Foreign Trade, India. Functioning the actual 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 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 – Upload Policy or the Exim Policy, etc.

The DGFT Delhi may 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 a lot of 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 domain that can easily be 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 associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 are 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 requirement for any company or venture capitalist seeking to do foreign trade in India. The IEC code can be obtained over the regional offices by applying through post or with an online application. One additionally check for his/her application status in the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list from the Directorate is a numerical code assigned to several products and commodities for import export trading. This code is mandatory while shipping commodities 1 country to an alternative. In short it is really a particular number assigned to specific products employed for describing goods in the import export trading platform.

It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and companies pursue cross border getting. Most of guidelines and guidelines related to import export trading are framed this particular board. Besides this, additionally, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces a fresh clause to the preexisting policy, the amendment notification is flashed on the internet as well. It could be very important to find the members of the international trading community to have a tab on all these important cards. You can easily get the latest announcements of DGFT India on Infodrive India, a leading export import database internet page.