There's no doubt that India is one of the fastest-growing countries, especially in regard to export trade. According to the Ministry of Commerce and Industry, India’s export trade for April-February 2020-21 is USD 439 Billion (3,292,500 crores INR)1
. As one of the top countries with export relationships with many countries, it is important to have an agency to build a bridge between Indian exporters and foriegn buyers. This is where the Directorate General of foreign Trade (DGFT) comes into the picture.
To make exporting easy for businesses, DGFT was formed as an agency of the Ministry of Commerce and Industry of the Government of India. Headquartered in New Delhi, it is responsible for formulating and implementing the Foreign Trade Policy of the country. As a government body, DGFT strives to maintain and develop exports and trade relationships with different countries, thus, assisting sellers in easy exports. It also issues export licenses and introduces trade incentives2
Making it more accessible for sellers to start export business, DGFT has four zonal offices in New Delhi, Mumbai, Kolkata and Chennai headed by Zonal Joint Director General of Foreign Trade. There are 35 Regional Authorities all over the country.
Whether you’re an existing seller within India with a vision to start export business or you have a new idea, understanding the role of DGFT in export trade will form the foundation to expanding globally. Here are some of the functions of DGFT that we’ll explain before we tell you how to export from India