Q. Consider the following statements regarding the Directorate General of Foreign Trade (DGFT) organization:
1. Its mandate is to formulating and implementing the Foreign Trade Policy with the main objective of promoting India’s exports.
2. It is an attached office of the Ministry of Commerce and Industry.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Directorate General of Foreign Trade (DGFT) organization is an attached office of the Ministry of Commerce and Industry and is headed by Director General of Foreign Trade.  

  • Right from its inception till 1991, when liberalization in the economic policies of the Government took place, this organization has been essentially involved in the regulation and promotion of foreign trade through regulation.  
  • Keeping in line with liberalization and globalization and the overall objective of increasing of exports, DGFT has since been assigned the role of “facilitator”.  
  • The shift was from prohibition and control of imports/exports to promotion and facilitation of exports/imports, keeping in view the interests of the country. 
  • This Directorate, with headquarters at New Delhi, is responsible for formulating and implementing the Foreign Trade Policy with the main objective of promoting India’s exports.  
  • The DGFT also issues scrips/authorization to exporters and monitors their corresponding obligations through a network of 38 regional offices and an extension counter at Indore. 

Source: TMH Ramesh Singh