Context
The Directorate General of Foreign Trade (DGFT) has suspended the export of raw, white and refined sugar till 30th September in view of the continuing conflict situation in West Asia.
About Directorate General of Foreign Trade (DGFT)
- The Directorate General of Foreign Trade (DGFT) operates from its headquarters in New Delhi through a network of 24 regional offices across India.
- It is an attached office of the Ministry of Commerce and Industry and is responsible for regulating and promoting the country’s external trade.
- The organisation is entrusted with the formulation and implementation of India’s Foreign Trade Policy (FTP).
- Before the economic reforms of 1991, the government operated DGFT as the Chief Controller of Imports and Exports (CCI&E).
- After liberalisation, the government reorganised it as DGFT to strengthen trade facilitation and export promotion.
Major Responsibilities of DGFT
- The Directorate General of Foreign Trade (DGFT) implements India’s Foreign Trade Policy through export-import schemes, licensing systems and trade notifications.
- It issues the Importer Exporter Code (IEC), a mandatory 10-digit identification number for import and export activities in India.
- DGFT regulates cross-border movement of goods, grants permissions for freely exportable items under Schedule 2 of the export policy, and prescribes standard input-output norms for export production.
- It also promotes regional trade and commercial cooperation, particularly with neighbouring countries.
