H&R
counsellor
It shows that you have a licenses and permissions from Government in order to start Importing or Exporting. You can understand it as a Passport is mandatory for traveling abroad, similarly an IEC Code is mandatory to Export or Import anything from/into India. IEC Certificate is issued by Directorate General of Foreign Trade (DGFT) which comes under Ministry of Commerce and Industry, Government of India. The main objective of DGFT is regulating and promoting Exports from India.
All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments.
Banks require the exporters IE Code while receiving money from abroad.
IE Code is issued for the lifetime of the entity and requires no renewal.
Import Export Code number is the primary proof of a firm as an Exporter/Importer in India.
*Professional fees Terms and Condition apply also may change without prior notice