IEC or Import Export Code is a 10-digit code that an entity or a person requires to export/import the goods/services. The authority of issuance of this code is granted to the DGFT (Director General of Foreign Trade), Ministry of Commerce and Industries, Government of India. The code is valid for a lifetime and there is no need to renew it again and again. Generation of code takes 5 working days, once the documents are submitted and the necessary corrections are made.
IEC code can be called many names, like importer exporter code, import-export code, import-export license, import-export number, IE code, IE license, etc. An applicant can either issue this code under his name or the company’s name. After it is issued, it is valid for all your company’s branches/division/units/factories.