29 Feb Streamlining IEC Registration Process on the DGFT’s Enhanced Platform
The Directorate General of Foreign Trade (DGFT) unveiled its revamped platform on July 13, 2020, with a vision to enhance the Ease of Doing Business. An essential aspect of this transition involves the registration of Importer-Exporter Codes (IECs) on the new DGFT platform. This blog elucidates the process and significance of registering IECs in the revamped DGFT platform, fostering a smoother experience for exporters and importers alike.
Objective of the Revamped DGFT Platform:
The primary objective behind the introduction of the revamped DGFT platform is to transition towards a paperless, digital, and efficient framework. By leveraging advanced technology, DGFT aims to bolster trade facilitation and contribute to the broader Digital India initiative.
Launch of the New DGFT Platform:
DGFT’s trade notification dated June 25, 2020, heralded the launch of the new DGFT platform, signaling a significant step towards enhancing business services for traders. Initially focusing on Importer Exporter Code (IEC) services, the platform aims to expand its offerings gradually to encompass a wide array of online services.
Services Offered on the Revamped DGFT Platform:
The enhanced DGFT platform offers a spectrum of services catering to exporters and importers, including streamlined processes for Advance Authorisation, EPCG & DFIA, accompanied by paperless Exports Obligation Discharge (EODC). It also facilitates Norms Fixation, Free Sale & Commerce Certificate issuance, Steel Import Monitoring System (SIMS), Import Licensing, and various other processes. Additionally, it allows for two-way communication facilitating status monitoring of applications, addressing deficiencies, and raising queries.
Import Export Code (IEC):
The Importer-Exporter Code (IEC) serves as a crucial identification number mandatory for all import and export activities. Its acquisition is imperative for individuals or entities engaging in international trade, ensuring compliance with DGFT regulations.
Announcement for Importer/Exporter:
In preparation for the platform’s rollout, DGFT emphasizes the following for Importer/Exporters:
- User Registration: Import Export Code holders are urged to create login IDs well in advance through the online registration process.
- Linking IDs to Specific IECs: Exporters/Importers must link their login IDs to their respective IECs using either Digital Signature Certificates or Aadhaar-based authentication.
Conclusion:
The registration of IECs on the revamped DGFT platform signifies a significant stride towards modernizing trade operations in India. By embracing digitalization and enhancing user experience, DGFT endeavors to empower exporters and importers while bolstering the nation’s trade ecosystem.
Through this transition, stakeholders can anticipate a more efficient, transparent, and seamless process, ultimately fostering a conducive environment for international trade and economic growth.
In essence, the revamped DGFT platform not only symbolizes technological advancement but also underscores India’s commitment to fostering a robust and dynamic trade landscape.
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