Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry of Commerce and Industries, Government of India. The validity of this code is for lifetime, that is, there is no need to renew it. This code is generated within 5-15 working days after the documents are submitted and all the corrections required are made. This code has many names, like importer exported code, import export code, import export license, import export number, IE code, IE license etc. You can issue this code in either your name or under company’s name. Once issued, it is valid for all its division/units/factories/branches. The government has taken different steps to make the policies easier related to the exports in India and which in reality helped in minimizing the corruption and eased the process of doing business. Therefore, every entrepreneur, start-ups, and other companies should be aware of the legal policies and the procedure by which they can set their foot in the import-export business in India. However, without a valid IEC Registration, you would not be able to sow the seed of your import/ export business. So, let’s explore a few more about how to get your Import Export Code online in India.
Import Export Code (IEC) registration is necessary for cross-selling of goods and services from India to other countries. It is required and compulsory for all Importers/Exporters to mention their Import Export Code while Importing/Exporting goods and services from India.