Director General of Foreign trade or DGFT is the governing board that a new set of guidelines and framework for importers and exporters trading in India. Framing rules and policies and implementing the formulated rules for controlling the flow of Foreign Trade is the major task of this board. Following are some of the major functions that are of great relevance for traders:

Notifications and Circulars

DGFT India issues Notifications, Public Notices, Circular and Notices, which can of prime importance for import export traders. These notifications are currently the announcements made the actual board for introducing changes made inside existing policies. It is the first and foremost concern of every trader to comprehend the interim trade policies that particularly crucial for that business. As an example – suppose an exporter has been exporting Leather Garments to Nigeria. On the list of latest Notifications issued by DGFT reads that all export import activities commencing to or from Nigeria are not allowed. The Leather Garments exporter must cease all his deals with the country as soon as the announcement is. Therefore, the traders must keep a tab on all the latest announcements associated with this board to save huge losses.

IEC Code Online Application India or Importers Exporters Code Number

IEC Code issued by DGFT India is the greatest requirement for starting an import export business. Various other words, it is the permit proposed by this board to any bonafide person/ company for starting a venture of import export trade. This code is comparable to an identification ID issued to every importer exporter of the continent. Without ICE code, nobody can pursue a foreign trade transaction in India.

EXIM Policy

Export Import Trade Policy of EXIM Policy may be the set of guidelines formulated by the board no cost flow of foreign job. These guidelines have been carried out improve the intensity of Import Export trading. Prime objectives with the EXIM Policy includes Special Focus on Initiatives, General Provisions Regarding Import and Export, Promotional Measures, Duty Exemption / Remission Schemes, Export Promotion Capital Goods Scheme, Export Oriented Units (EOUs), Special Economic Zones, Free Trade and Warehousing Zones, and Deemed Exports. The board issues several policy updates that are very important for participants so that they plan profitable and successful trading strategic methods.

DEPB Rates

DEPB Rates are the Export Incentives granted by Indian Government, for saving Customs Duty when Importing several Products and solutions. The objective of this incentive is to neutralize the customs duty applicable on import content of the export course. This incentive is usually granted to the exporter under several circumstances mentioned under DEPB General Instructions. The DEPB rates and General Instructions will also set, and updated by DGFT The indian subcontinent.

All these traits of DGFT are important for every trader. Therefore, foreign traders are always on the lookout for that latest announcement made by DGFT Delhi and other zonal head office. DGFT Delhi located at IP Bhawan New Delhi, issues several announcements in an year. These announcements irrespective of obtained form the website of Infodrive India, a leading online import and export database tiny.