Import & Export Code is to be obtained by the business entity for import into or export from India. Import & Export Code is popularly known as the IEC number. Import & Export Code is a ten-digit unique number issued by the Directorate General of Foreign Trade (DGFT).
What is Import Export Code (IEC)
In today’s competitive world, many businesses aim to expand beyond their local market. Thanks to the internet and technology, going global is easier. But before you can do business internationally, you have to follow certain procedures and laws, and get various registrations and licenses. One such requirement in India is the Import Export Code (IEC) license, also known as the Importer-Exporter Code.
Advantages of Import Export Code (IEC)
Expansion of business
Availing several benefits
No return filing
Easy processing
No need for renewal
Cases where Import-Export Code (IEC) is not mandatory