Meaning : Import Export Code
Category : Business
Sub Category : License
What does IEC mean or stand for ?
IEC is a license that is given by the DGFT – Directorate General of Foreign Trade to a company in order for it to import or export goods.Without this IEC code commercial overseas trade is not possible.Private consumers who wish to purchase all items can do so without an IEC but there is a limit on the value of the item that they can buy- (declared by DGFT).IF it exceeds this value then then need to get it through a company that has an IEC
The 10 digit code along with the applicants photo and details of business are prescribed on the paper form and mailed back to the applicant within a week of applying for it.