DGFT, or the Directorate General of Foreign Trade, is a department of the Ministry of Commerce and Industry of India that manages foreign trade. The authority regulates essential operations related to imports and exports, including introducing new policies, authorizing trades along with approving registrations.
DGFT also provides services through its online platform, including issuing Importer Exporter Code (IEC), handling export promotion schemes, and publishing the Foreign Trade Policy and related procedures. It works with exporters, importers, and other government agencies to support compliant international trade.
How It Works:
- Sets and implements foreign trade policies.
- Issues the Importer Exporter Code (IEC).
- Grants export-related authorizations.
- Administers export promotion schemes.
- Provides online trade-related services.
Benefits:
- Simplifies import and export procedures
- Supports exporters and importers
- Provides access to trade-related schemes
- Promotes India’s international trade
Example:
An Indian company wants to start exporting products. It applies to DGFT for an IEC, which is generally required to carry out import or export activities.