Foreign Trade Consultants,DGFT Consultants,DGFT Consultants in Mumbai, DGFT Consultancy Services
The Directorate General of foreign trade(DGFT) is an agency of the ministry of commerce and industry of the government of India. Earlier, it was known as Chief Controller of Imports and Exports. It is responsible for the execution of the various import and export policies of India. DGFT plays a vital role in maintaining trade relations with other countries thereby not only playing a role in economic growth but also giving a much-needed impetus to the trade industry. For promoting trade, the DGFT has its regional offices all over the country. There are many reputed DGFT consultants in Mumbai that are focused on Directorate General of Foreign Trade (DGFT) and customs related operations.
- IT IMPLEMENTS FOREIGN TRADE POLICY
The Directorate General of Foreign Trade implements all the various policies related to foreign trade. This is the main role of this body as India is currently the fastest-growing country both in terms of trade and population. That is why it is important to ensure adequate implementation of the trading policy.
IT IMPLEMENTS FOREIGN TRADE PROCEDURES
To complete a task on a large scale, it is important that all the procedures are streamlined. The DGFT is responsible for maintaining Trade procedures so that the country nor the trading industry is affected.
ISSUES IEC CODE TO IMPORTERS AND EXPORTERS
In the present day, we have Aadhar cards as our unique identity number. In a similar way, all organizations or individuals involved in export or export must have an import-export code which is a 10-digit number issued by the DGFT as a unique number which allows them to trade globally. An individual can apply for it on the DGFT website. The portal can be accessed by anyone who wants a PAN card and wants to trade across the world.
IT PROVIDES A PLATFORM FOR UPDATING eBRC
An electronic Bank Realization Certificate or e-BRC is a certificate issued by banks to exporters which ensures that exporters get all the benefits under the different schemes of the foreign trade policy. This was one of the initiatives undertaken by the Indian government to facilitate paperless trading and the General of foreign trade has created an electronic platform for BRC.
IT PROVIDES INFORMATION ABOUT THE EXPORT POLICY SCHEDULE
The saying that half-knowledge is dangerous can be applied to government bodies too. Especially when it comes to foreign trade. If an individual is not aware of the regular rules and regulations, it might cost the business or individual millions of rupees. To avoid such a situation, the DGFT provides information about everything. Among which is schedule 2 which is concerned with exports. All the information is given on the DGFT website.
IT GRANTS EXPORT LICENCE TO RESTRICTED GOODS.
There are many items that are banned in India for export to other countries. These items can include beef, leather, oils etc. To export them, an individual or organization has to apply for a licence on the DGFT website. The additional licences are mainly given for restrictive goods.
- IT REGULATES THE MOVEMENT OF GOODS
DGFT regulates the transit of goods. In cases where the goods do not reach their destination, the DGFT steps in to address feedback, ensure the proper delivery and resolve issues that are hampering trade.
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