DGFT stands for Directorate General of Foreign Trade, which is a government organization responsible for framing all policies regarding export and import in Asia. They are entrusted with the responsibility of implementing various policies regarding trade for example, Foreign Trade Policy and even 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 which is the Importer Exporter Code, and a primary requirement for any company or venture capitalist wanting to trade in India. The Directorate currently is headed by R S Gujral. Form for applying and becoming a recognized member are easily sold at regional offices around the state and all notifications are updated on the internet from time to working hours.
DGFT has many functions which primarily include implementing various trade policies and introducing different schemes regarding trade benefits throughout the country. The Directorate allows and regulates Transit of Goods to various other countries in accordance with the trade treaties with the countries. Moreover grant the 10 digit IEC which is a primary requirement Documents required for Import Export Code Registration Online any trader wanting to carry out import and export related businesses in India. Nevertheless also laying a involving importance on Foreign Trade for it is gaining a lot of prominence in the recent working days.
Whenever the organization makes any amendment or introduces a new clause to the preexisting policy or introduces a new policy, can bring you happiness about the notifications on 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, some other 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 from the trade process.
Directorate General of Upload – Export import data plays a very integral role in the development of trading relations with various nations and thus help in improving not only the cost-effective growth but also a new certain impetus needed previously trade industry. This organization ably manages the trade process in and out of the country and helps the country in some ways.