The Importer Exporter Code (IEC) is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT) in India. It serves as a key registration requirement for businesses and individuals involved in international trade, specifically the import and export of goods and services.
Obtaining an IEC is mandatory for entities engaging in cross-border transactions, as it facilitates customs clearance, foreign exchange dealings, and compliance with trade regulations. The IEC is linked to the Permanent Account Number (PAN) of the business or individual and remains valid for a lifetime, meaning it does not require renewal. However, any changes in business details, such as name, address, or ownership, must be updated in the IEC records through the DGFT portal.
The application process for an IEC is entirely online via the DGFT portal, where applicants must fill out a registration form, submit necessary documents (such as PAN and proof of address), and pay a nominal fee. Once issued, the IEC enables businesses to operate in global markets and access various government benefits and trade incentives related to exports.
Additionally, while IEC is essential for commercial import/export activities, certain entities—such as government departments, charitable organizations, and individuals importing or exporting goods for personal use—may be exempt from obtaining it. Failure to acquire an IEC before engaging in international trade can lead to penalties, delays in shipments, and regulatory complications.