Directorate General of Foreign Trade (DGFT) is headed by Director General of Foreign Trade which is responsible for the execution of the Foreign Trade Policy (FTP) announced by the government from time to time for the regulation and promotion of foreign trade. DGFT acts as a “facilitator” to increase the exports from the inception of liberalization and globalization in 1991.
The following are the functions of DGFT:
(a) Implementation of Foreign Trade Policy
The FTP is implemented by introducing various schemes and guidelines through its network of 36 regional offices spread across the country. The DGFT is also responsible for issuing scrips and authorisation to exporters and monitoring their corresponding obligations.
(b) Granting of License for Import and Export
DGFT is the licensing authority for exporters, importers, and the export and import business.
(c) Granting of Importer – Exporter Code (IEC) number
It is the registration number, which enables Indian parties to deal in foreign trade. The IEC number is issued by the regional offices of DGFT.
(d) Regulation of transit of goods
DGFT permits or regulates the transit of goods from or to India in accordance with the bilateral treaties between India and other countries. DGFT has the power to prohibit, restrict and regulate exports and imports.
(e) Resolving export-related problems
DGFT or its regional offices attend to the problems and grievances of exporters. For speedy redressal of genuine grievances of trade and industry relating to policy and procedures, Grievance Committees have been set up in the regional licensing offices.
(f) Publications
DGFT is responsible for the publication of Foreign Trade Policy and Handbook of procedures, ITC (HS Code) Schedule-1 for Import items in India and Schedule-2 for Export items from India.
(g) Trade facilitator
DGFT also acts as a trade facilitator. It deals with the quality complaints of foreign buyers. Trade facilitation on the part of DGFT helps to promote Indian exports in the overseas markets. DGFT also introduces different schemes from time to time regarding trade benefits throughout the country.
WHAT WE OFFER:
Our company has amassed abundant expertise over the year in the field of DGFT Consultancy Services and provide very reliable service at the most competitive prices. Our DGFT Consultancy Services include the following:
- Preparation of documentation to provide a hassle-free experience.
- Availing of various Authorisations such as Advance and EPCG License, DFIA Authorisation, Special Purpose License for import of restricted goods, Custom Permits, Export Promotion Licenses, etc.
- Availing of IEC Number.
- Advisory Services on the selection and procedural aspects of schemes offered by DGFT.
- Closure of Advance and EPCG Authorisation.
- Compliance of rules and regulations of the Foreign Trade Policy by updating the clients with regular policy amendments.
