It operates under the Ministry of Commerce and Industry. The DGFT formulates and implements policies related to exports and imports, and it plays a crucial role in facilitating trade and ensuring compliance with international trade regulations.
The key functions and responsibilities of the Directorate General of Foreign Trade include:
Policy Formulation: The DGFT formulates and reviews policies related to foreign trade, including export promotion, import regulations, trade facilitation, and trade agreements. It works towards enhancing India's exports and addressing trade-related challenges.
Export and Import Licensing: The DGFT issues various licenses and authorizations required for exports and imports. This includes Exporter Importer Code (IEC), which is mandatory for engaging in international trade, as well as other licenses for specific product categories or export promotion schemes.
Foreign Trade Regulations: The DGFT establishes rules, regulations, and guidelines for foreign trade. It ensures compliance with international trade norms, such as those related to customs, tariffs, export controls, anti-dumping, and safeguard measures.
Trade Promotion: The DGFT promotes Indian products and services in international markets through trade fairs, exhibitions, trade delegations, and other promotional activities. It collaborates with industry associations, export promotion councils, and other stakeholders to identify market opportunities and facilitate export growth.
Export-Import Data and Analysis: The DGFT collects, analyzes, and disseminates trade-related data, including export-import statistics, tariff information, and market intelligence. This data helps in policy formulation, monitoring trade trends, and supporting decision-making by businesses.
Trade Facilitation: The DGFT works towards simplifying and streamlining trade procedures to facilitate ease of doing business. It focuses on reducing paperwork, promoting digital initiatives, and enhancing efficiency in customs clearance and export-import processes.
Export Promotion Schemes: The DGFT administers various export promotion schemes, such as the Merchandise Exports from India Scheme (MEIS) and the Export Promotion Capital Goods (EPCG) scheme. These schemes provide incentives, benefits, and concessions to exporters, encouraging them to expand their export activities.
The DGFT operates through its regional offices located across different states in India. It serves as a crucial interface between the government, trade community, and other stakeholders involved in foreign trade. The agency's objective is to boost India's exports, promote trade diversification, and create a conducive environment for international trade.
