All you need to know before starting your import/export business: IEC

All you need to know before starting your import/export business: IEC

As you think of starting a business wherein you need to export/import certain goods/services, first thing that comes into your mind would be: do I need to take some authorization for it? The answer is Yes. You need an Importer Exporter Code, without which you cannot start your import/export venture in India

What is IEC number?
IEC (importer Exporter Code) number is a 10-digit code number given to an exporter or importer by the regional office of the Director general of Foreign Trade (DGFT).

Why do you need IEC number?
If you are planning to engage into a business of export/import, you would need IEC number as no export or import could be made by any person without an IEC number

Are there any circumstances where IEC is not required?

IEC is not required under the following circumstances:

1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.

2. Import/export by government ministries and departments, and certain notified charitable organizations.

3. Persons importing/exporting goods from/to Nepal provided the CIF value of a single consignment does not exceed Indian Rs. 25,000.

How to apply for IEC?

IEC application can be filed online at DGFT website. We can click help you applying the same. Click here to visit how

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