Directorate General of Foreign Trade

Directorate General of Foreign Trade (DGFT) Latest News

The Government of India has updated its import policy for gold and silver to align customs tariffs with trade regulations, as notified by the Directorate General of Foreign Trade (DGFT).

About Directorate General of Foreign Trade (DGFT)

• The Directorate General of Foreign Trade (DGFT) is an attached office of the Ministry of Commerce and Industry.
• It is responsible for the formulation and implementation of India’s Foreign Trade Policy (FTP).
• Headquartered in New Delhi, it operates through a network of 24 regional offices.
• 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.

Key Functions of DGFT

• Implements India’s Foreign Trade Policy (Exim Policy) by issuing various schemes, licenses, and notifications.
• Issues the Importer Exporter Code (IEC)—a 10-digit unique code mandatory for all Indian importers and exporters.
• Regulates transit of goods across Indian borders as per bilateral treaties.
• Grants permissions for free export items listed in Schedule 2 of the export policy.
• 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.

Directorate General of Foreign Trade (DGFT) FAQs

Q1: What is the Directorate General of Foreign Trade (DGFT)?
Ans: The DGFT is an attached office under the Ministry of Commerce and Industry responsible for formulating and implementing India’s Foreign Trade Policy (FTP).

Q2: What are the main functions of DGFT?
Ans: It handles export and import licensing, promotion of exports, trade facilitation, and implementation of export promotion schemes.

Source: TH