Foreign Trade Policy
For the development of the country’s trade there is a need for a comprehensive view to be taken regarding the export import policies of India. Trade propels economic growth and national development. The primary purpose is not the mere earning of foreign exchange, but the stimulation of greater economic activity. For India to become a major player in world trade, an all encompassing, and comprehensive view needs to be taken for the overall development of the country’s foreign trade. Directorate General of Foreign Trade gives all the necessary information and support to people thereby helping in the promotion of India’s foreign trade.
Directorate General of Foreign Trade is a government organization in India responsible for framing all policies regarding export and import in India. They are entrusted with the responsibility of implementing various policies regarding trade for like Foreign Trade Policy or the Exam Policy with the major objective of promoting export and import related activities in India. It also acts as a trade facilitator. DGFT India plays an 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.
DGFT India provides a set of guidelines for importers and exporters wanting to trade in India. DGFT IEC stands for Importer Exporter Code and is issued by DGFT India. Any bonafide person or company starting a venture for International trade requires this code. It also deals with the quality complaints of the foreign buyers. Officials DGFT works in close coordination with other related economic offices like Customs Commissionerates, Central Excise authorities, DRI authorities and Enforcement Directorate.
DGFT Delhi Foreign Trade enables companies to acquire benefits on their imports, exports, customs, exports promotion council etc. DGFT Delhi, where the main office is located, is laying stress on the development of foreign trade in the country in the recent years. This is because foreign trade is gaining immense importance in the country by the day. In its view this as a national priority in terms of gaining economic as well as overall growth. To become a major player in world trade, a comprehensive approach needs to be taken through the Foreign Trade Policy of India.
Jayden is writing articles on behalf of DGFT Delhi. He writes mainly about International Trade & business, helps people by providing valuable information on import export data.