Directorate General of Foreign Trade

Directorate General of Foreign Trade Latest News

Recently, the Directorate General of Foreign Trade (DGFT) prohibited export of raw, white and refined sugar with immediate effect till September 30 amid the ongoing West Asia conflict. 

About Directorate General of Foreign Trade

• The Directorate General of Foreign Trade (DGFT) is an attached office of the Ministry of Commerce and Industry.
• Mandate: It is responsible for the formulation and implementation of India’s Foreign Trade Policy (FTP).
• Background 
  • Before 1991, DGFT was known as the Chief Controller of Imports & Exports (CCI&E).
  • Post-liberalisation, it was restructured as DGFT to act as a trade facilitator.
• Headquarter: It is located in New Delhi, it operates through a network of 24 regional offices.

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Key Functions of DGFT

• It implements India’s Foreign Trade Policy (Exim Policy) by issuing various schemes, licenses, and notifications.
• It issues the Importer Exporter Code (IEC)—a 10-digit unique code mandatory for all Indian importers and exporters.
• It regulates transit of goods across Indian borders as per bilateral treaties.
• It grants permissions for free export items listed in Schedule 2 of the export policy.
• It sets standard input-output norms to define the quantity of inputs allowed for the export of a specified quantity of output.
• Facilitates regional trade promotion, especially with neighbouring countries.

Source: IE