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 even Exam Policy with the key objective of promoting export and Import Export Code Application Online India related activities in India.
This Directorate lays for 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 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 purchased at regional offices around the country and all notifications are updated on the internet from time to time.
DGFT has many functions which primarily include implementing various trade policies and introducing different schemes regarding trade benefits throughout the nation. The Directorate allows and regulates Transit of Goods to be able to other countries in accordance with the trade treaties with the countries. Moreover grant the 10 digit IEC which is a primary requirement for any trader wanting to carry out import and export related businesses in India. These 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 any preexisting policy or introduces a new policy, as being a 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, 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 Upload – Export import data plays a very integral role in the development of trading relations with various other nations and thus assistance with improving not only the economical growth but also a new certain impetus needed their trade industry. This organization ably manages the trade process in and from the country and helps the country in numerous ways.