subject: DGFT-International Business & Trade [print this page] For the development of the country's international trade there is a need for a comprehensive view to be taken regarding the export import policies of India. DGFT (directorate general of foreign trade) which is accessible online gives all the necessary information and support to people thereby helping in the promotion of India's foreign trade by implementing various export promotion schemes. Traders are issued a unique exporter importer code number necessary for trade in India. It also allows and regulates Transit of Goods to various other countries in accordance with the trade treaties with the countries. Quality complaints of foreign buyers are also dealt with and the input output norms are set.
DGFT India, earlier known as Chief Controller of Imports & Exports, is a government organization in India responsible for the formulation of guidelines and principles for Indian importers and exporters, with the main objective of promoting international trade. As a part of their work curriculum is to implement foreign trade policies, to grant the Exporter Importer code Number, etc. Apart from this, DGFT also acts as a trade facilitator. It plays a very integral role in the development of trading relations with various other nations and thus help in improving not only the economic growth via international business but also provides a certain impetus needed in the trade industry.
The export import policy is reviewed every 5 years by directorate general of foreign trade and implemented with better norms. DGFT related online services available at various sites act as a resource centre for trade information and monitoring agency for imports and exports. Online services available at various sites implement the new notifications that are brought in export import policy of India. Recent notifications include prohibition on any milk or milk products being imported from China, amendments in the Exim policy for trade of radial tires, prohibition on export of non-basmati rice etc.
Updates in policies are made by DGFT India every year on 31st march and the modification, improvements and new schemes become effective from April of each year. Online services provide the updated policy and the reviewed norms. Known as the New Foreign Trade Policy it is valid for the period of five years. It aims at stopping the declining export and doubling the export of goods and services by the end of this period.
The database of Directorate General of Foreign Trade provides information on foreign trade policies & procedures, EXIM bulletin, latest notifications and contact details of Regional offices in Mumbai, Chennai, Kolkata, New Delhi (CLA), Hyderabad, Ahmedabad, Ludhiana & Pune. With this, the infrastructure available in DGFT India has now become Public Key Infrastructure enabled and there is seamless transmission of authorized information.
DGFT-International Business & Trade
By: Jayden William
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