DGFT Matters
DGFT stands for Directorate General of Foreign Trade, which is an agency of the Ministry of Commerce and Industry of the Government of India. DGFT is responsible for formulating and implementing the foreign trade policy of India and is the primary agency for regulating India's imports and exports.
DGFT provides various services to facilitate and regulate India's foreign trade, including:
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Issuance of Import-Export Code (IEC): DGFT issues IEC, which is a 10-digit code required for any person or company to import or export goods and services from India.
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Registration under various schemes: DGFT provides registration under various schemes such as the Advance Authorization Scheme, Export Promotion Capital Goods Scheme, and Duty-Free Import Authorization Scheme, among others, to promote and incentivize exports.
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Issuance of Certificates of Origin: DGFT issues Certificates of Origin to certify the origin of goods and services exported from India.
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Regulation of Foreign Trade Policy: DGFT formulates and implements foreign trade policies and regulations to promote and regulate India's imports and exports.
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Monitoring of exports and imports: DGFT monitors India's imports and exports and takes measures to correct imbalances and promote balanced trade.
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Facilitation of trade promotion: DGFT facilitates trade promotion activities such as organizing trade fairs and exhibitions, providing financial assistance for export promotion, and providing support for market research and analysis.
DGFT plays a crucial role in regulating and promoting India's foreign trade and provides various services to facilitate and regulate imports and exports.