Import Export Code (IEC)

The Import Export Code (IEC) is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India. It is a mandatory requirement for any individual or business engaged in importing or exporting goods and services from or to India.

Key Features:

• Mandatory for Imports and Exports: No individual or entity can engage in import or export activities without an IEC.
• Issued Once: IEC is issued once and is valid for the lifetime of the entity.
• No Renewal Required: It does not require periodic renewal.

When is IEC Required?

IEC is necessary in the following scenarios:

• At the time of import, customs authorities require the IEC to clear shipments.
• For financial transactions, banks require the IEC to process payments related to imports or exports.
• During export, the IEC is needed to clear shipments at customs.
• For receiving foreign currency, exporters need an IEC to facilitate the inward remittance of export earnings directly into their bank accounts.

Note:For service exporters, obtaining an IEC is not mandatory unless they intend to avail benefits or incentives under the Foreign Trade Policy.