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Implementation Mechanisms – The Enforcers! 🏛️

The Government makes the policy. But who executes it? Meet the Big Three.

1. Ministry of Commerce"The Boss (Makes Policy)"
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2. DGFT"The Regulator (Issues Licenses)"
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3. Customs"The Gatekeeper (Collects Tax)"

1. DGFT (Directorate General of Foreign Trade) 🏢

  • Role: The main body for EXIM Policy.
  • Functions:
    • Issues IEC Code (Importer-Exporter Code). No IEC = No Trade.
    • Issues Licenses (for restricted items).
    • Gives Export Incentives (Scrips).

2. Customs Department 👮‍♂️

  • Role: The police at the border (Ports/Airports).
  • Functions:
    • Checks goods (Physical verification).
    • Collects Customs Duty.
    • Prevents Smuggling.

3. Export Promotion Councils (EPCs) 📢

  • Role: To help specific industries.
  • Examples:
    • EEPC: Engineering Export Promotion Council.
    • APEDA: Agricultural Products (Mangoes, Rice).
    • GJEPC: Gems & Jewellery.
  • Function: They take exporters to trade fairs abroad and help them find buyers.
What is IEC?

IEC (Importer-Exporter Code) is a 10-digit number (same as PAN). It is mandatory for anyone who wants to import or export. Issued by DGFT.

Quiz Time! 🎯

Test Your Knowledge

Question 1 of 5

1. Who issues the IEC Code?

RBI
DGFT
Customs
Police

💡 Final Wisdom: "DGFT gives you the license to drive. Customs checks if you are following the traffic rules. EPC helps you find the destination." 🚗

Next up: Current Export Policy - How the Govt helps you sell! 🚀

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