IEC stands for Import Export Code. It is a unique number given to businesses that want to import or export goods from or to India.
Why you need it:
- It is mandatory for all businesses that engage in international trade.
- It is required to send or receive goods from other countries.
- You need it to clear customs and complete shipping or receiving documents.
- It allows you to open a bank account for international transactions.
Important points:
- It is a one-time registration, and no renewal is required.
- If you are a small business looking to export goods, IEC helps expand your market reach.
- Without an IEC code, you cannot start importing or exporting.
The IEC Code is easy to get and helps your business grow in international trade.