Introduction To Institutional Framework For International Trade
Introduction To Institutional Framework For International Trade
Introduction To Institutional Framework For International Trade
India has a comprehensive institutional set up to promote international trade. Exporting firms
need to understand and appreciate the institutions involved and the functions carried out by
them. The Department of Commerce is the prime agency of the country to promote
international trade.
It is supported by a massive institutional set up (Exhibit 4.5) at the union and state government
levels, carrying out a range of trade facilitation activities.
Institutional Framework –
The principal functional divisions of the Department of Commerce engaged in export promotion
activities are discussed as follows.
1. Directorate General of Foreign Trade: the directorate is responsible for execution of export-
import policy announced by the Government of India. It is headed by Director General of
Foreign Trade (DGFT). The directorate also looks after the work relating to issuing of licenses
and monitoring of export obligations.
2. Directorate General of Commercial Intelligence and Statistics:
The Directorate General of Commercial Intelligence and Statistics (DGCI&S) was set up
in 1962 and is headquartered at Kolkata. It is responsible for collection, compilation, and
dissemination of trade statistics and commercial information. The DGCI&S also brings
out a number of publications, mainly on inland and coastal trade statistics, revenue
statistics, shipping and air cargo statistics, etc.
its main publications, such as India Trade Journal (weekly) and Foreign Trade Statistics of
India (monthly) provide detailed information on export trade statistics. The DGCI&S uses
mainly the Daily Trade Returns (DTRs), an authentic source, for compiling and
generating export-import statistics.