IEC (Import Export Code)
Definition
The Import Export Code is a mandatory business identification number issued by the Directorate General of Foreign Trade (DGFT), Government of India, required to import or export goods from India.
Why It Matters
No business can legally import or export goods and services from India without a valid IEC, except in specific exempted categories.
Example
A trading company applies for an IEC before signing its first export order.
Relevant Authority / Source
Directorate General of Foreign Trade (DGFT)