The first requirement before you start an import/ export business in India is to obtain an IEC(Import Export Code). An IEC is necessary for import/export of goods. IEC(Import Export Code) is known as many names such as importer exporter code, import export code, import export license, import export number,etc. In simple terms, IE CODE NO. is a 10 digit code which is provided by DGFT(Directorate General of Foreign Trade) required for import export transactions. You can take IE code in your personal name or company name.An IEC number issued to applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.
In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
IEC fee payment