Directorate General of Foreign Trade (DGFT) in India

1. Directorate General of Foreign Trade (DGFT) in India DGFT Directorate General of Foreign Trade The DGFT is an organization under the Ministry of Commerce and Industry, responsible for formulating and executing India's foreign trade policies. Its main objective is to promote India's external trade and the country's exports to the global market. The DGFT undertakes several initiatives, including simplifying procedures, increasing transparency, and reducing transaction costs. One of the major functions of the DGFT is to draft and management of the Foreign Trade Policy (FTP). The FTP set the government's strategy for facilitating exports, minimizing imports, and regulating foreign trade. In order to provide guidelines and clarifications on various trade-related matters, DGFT also issues various notifications, circulars, and public notices.

2. The DGFT has introduced several initiatives to accelerate trade procedures for Indian businesses. For instance, it has established an online platform for submitting various applications and registering for licenses. This platform DGFT Portal has made the entire process of applying for licenses and permissions more accessible and faster. Moreover, the DGFT has also established a variety of schemes to promote exports, such as the Merchandise Exports from India Scheme (MEIS) and the Export Promotion Capital Goods (EPCG) scheme. Roles and Functions of DGFT Here are some of the key roles and functions of the DGFT: 1. Formulating and implementing trade policies: The DGFT formulates and implements India's Foreign Trade Policy (FTP), which outlines the government's plan for promoting exports, reducing imports, and regulating foreign trade. 2. Issuing licenses and permits: The DGFT issues various licenses and permits required for exporting or importing goods and services including Importer-Exporter Code (IEC), Merchandise Exports from India Scheme (MEIS), Export Promotion Capital Goods (EPCG), Advance Authorisation, Duty-Free Import Authorisation (DFIA) scheme among others. 3. Regulating exports and imports: The DGFT governs the export and import of wide range of products and services, including sensitive items such as weapons, drugs, and chemicals. In order to protect domestic industries and ensure national security, it imposes trade restrictions and regulations, such as minimum export prices and quotas, 4. Promoting exports: The DGFT promotes exports through various schemes and initiatives. For instance, it implements the MEIS scheme, which provides financial incentives to exporters of specified goods based on their export performance. It also conducts export promotion programs and trade fairs to connect Indian businesses with potential foreign buyers.

3. 5. Dispute resolution: The DGFT helps Indian exporters to resolve trade disputes with their foreign buyers or importers related to trade agreements and trade policies. 6. Collaborating with stakeholders: The DGFT collaborates with various stakeholders and also government to assure that trade policies and regulations and smooth trade transactions. About Export License in India An export license is a document that authorizes an Indian business to export specified goods or services from India to other countries. In India, the Directorate General of Foreign Trade (DGFT) issues various types of export licenses and permits required for exporting goods and services. Procedures for filing an application with DGFT for obtaining a license Here's a step-by-step guide to filing an application with the DGFT for obtaining a license: 1. The applicant must register on the DGFT website using their IEC and create a login ID and password. 2. Once registered, the applicant can fill out the license application form online including the exporter/importer's name and address, the type and quantity of goods or services to be imported/exported, and the destination country. 3. Once the application form is completed, the applicant must submit it online to the DGFT. The application must be accompanied by relevant documents, such as invoices, bills of lading, and other certificates required for import export registration. 4. The DGFT charges a fee for processing the license application. The applicant must pay the fee online through the DGFT portal.

4. 5. To track the status of license applications online through the DGFT portal. The DGFT may require additional documents or information during the processing of the application 6. Once the DGFT approves the license application, the license can be downloaded from the DGFT portal. The license contains details of the goods or services to be imported or exported, the quantity, the value, and the destination country. Documents required for DGFT License When applying for a license or permit from the Directorate General of Foreign Trade (DGFT) in India, the applicant is required to submit various documents to support their application. The documents required may vary depending on the type of license or permit being applied for, but here are some common documents that may be required: 1. Import Export Code (IEC) 2. Bank Certificate 3. PAN Card, Aadhar Card 4. Incorporation Certificate 5. Business Registration 6. Purchase Order 7. Invoice for the goods or services 8. Bill of Lading 9. Insurance Certificate 10.Technical Specifications including chemicals, pharmaceuticals, or electronic items, technical specifications and related documents must be submitted. 11.Registration-Cum-Membership Certificate (RCMC)