PRANAY GUPTA

The union ministry of commerce and industry is an umbrella organization for the foreign trade of the entire country The department is functionally organized into the following eight divisions 1Administration general division 2 Finance division 3 Economic division 4 Trade policy division 5 Foreign trade territorial division 6State trading & infrastructure division 7 Supply division 8 Plantation division

DGFT was earlier known as the chief controller of imports and exports Besides promoting exports it facilitates the removal of control and operates through regional offices spread all over the country

Commodity boards such as the rubber board and the silk board , are public sector organizations The tea board, coffee board , tobacco board, spices board, jute mills association are some examples

They are responsible for building a database on exports and imports of members and international trade data for members use They keep track of changing trends and opportunities abroad and educate members on country specific opportunities

EIC , also exercises technical and administrative control over the five export inspection agencies , one each at Chennai , Delhi , Kochi , Kolkata and Mumbai established by the ministry of commerce , government of India , under Section 7 of the Act for the purpose of implementing the various measures and policies formulated by the export inspection council of India

ECGC was established in the year 1957 It is the fifth largest credit insurer of the world in terms of coverage of national exports

ITPO provides a wide spectrum of services to trade and industry and acts as a catalyst for growth of India's trade It s regional offices at Bangalore , Chennai , Kolkata and Mumbai

The federation of Indian export organisations represents spirit of enterprise in the global market known popularly as FIEO It is the apex body of various exporters and export promotion organizations

EXIM bank is an apex organization that finances, facilitates and promotes exports Its major function is to arrange loans/ funds for exporters

STC is a premier international trading house owned by the government of India Having been set up in 1956 The corporation has developed vast expertise in handling bulk international trade

This bureau is based at the office of the director general shipping Mumbai and it looks into the problems related to ocean freights It also gives suggestions and settles disputes related to ocean freight

It operates through customs houses in Mumbai, Kolkata , New Delhi, and other industrial areas and export zones The department handles and implements related to drawback imposition and recovery of customs and central excise