DGFT stands for Directorate General of Foreign Trade, which is a government organization responsible for framing all policies regarding export and import in Of india. They are entrusted with the responsibility of implementing various policies regarding trade for example, Foreign Trade Policy or the Exam Policy with crucial objective of promoting export and import related activities in India.
This Directorate lays on the very framework upon which traders and companies can import or export within India. They issue the IEC Code Online Application India which is the Importer Exporter Code, which a primary requirement regarding any company or venture capitalist wanting to trade in India. The Directorate happens to be headed by R S Gujral. Form for applying and becoming a recognized member are easily available at regional offices around the state and all notifications are updated on the internet from time to period of time.
DGFT has many functions which primarily include implementing various trade policies and introducing different schemes regarding trade benefits throughout the world. The Directorate allows and regulates Transit of Goods to several other countries in accordance with the trade treaties with the countries. They even teach grant the 10 digit IEC which is a principal requirement for any trader wanting to carry out import and export related businesses in India. These also laying a associated with importance on Foreign Trade for it is gaining a lot of prominence in the recent certain times.
Whenever the organization makes any amendment or introduces a new clause to your preexisting policy or introduces a new policy, can bring you happiness about the notifications on the internet also. Recent notifications include prohibition on any milk or milk products being imported from China, amendments in the Exam policy, a new standard for import and export of radial tires, other great major amendments in ITC HC policies and standard code of conduct, prohibition on export of non-basmati rice and other major amendments. Other notifications include amendments regarding classification of imported and exported goods under the ITC HC and changes in the terms and standards for the trade process.
Directorate General of Move – Export import data plays a very integral role in the reduce trading relations with various nations and thus help out with improving not only the economic growth but also supplies a certain impetus needed previously trade industry. This organization ably manages the trade process in and regarding your the country and helps the country in various ways.