import export license | iec code online application

Import Export License 

Have you been toying with the idea of starting an import export business? Is it your dream to showcase Indian goods the world over, but have been encountering a few hurdles? Let this not deter you, and push you to put your dream on the back burner. As we are all aware, every business requires prepping prior to it coming into existence. This is other words means that a new business however small or large need a thorough analysis for it to flourish. When it comes to an import export business, one must start with an Import Export Licence. An import export licence is also called IEC. This is the most important document that is required, either by a company or an individual related to any form of foreign trade.

An application for an IEC can be collected at either a zonal, or a regional office of the Director General of Foreign Trade(DGFT) closest to the office premises or area. One can even access an IEC application on the net in the comfortable confine of one’s residence/ home, and upon duly filling the iec code online application with mandatory details, can submit the same. If you are contemplating weather this is an apt way of doing it, please be informed that the site where this application is available is extremely user friendly. In most cases, when all the details furnished match the requirements, an IEC or import-export code, which happens to be a 10-digit code will be issued to within the stated time frame. The Director General of Foreign Trade issues this code. An individual is issued only 1 import export licence, which is valid for a lifetime, as this licence has no expiry.

The following requirement is that of customs clearance agents. This is probably one of the most crucial factors of an import export business, hence to be given adequate focus. These agents are usually a company, but in certain cases, they can also be an individual. The international custom authorities authorise these agents to provide clearance of consignments at customs. These agents are usually hired to ease a consignment’s clearance at customs. This, by no means is an easy task, hence agents are appointed. These agents are also called custom brokers or forwarding agents, whose primary job is to handle the import export regulations, check the paperwork, ensuring that the merchandise or the consignment receives clearance at any cost.

Once an individual or a company has obtained the clearance, the next step, would be for the merchandise to be shipped. Shipping services in India helps companies as well as entrepreneurs with this. You as an entrepreneur or a company can heave a sigh of relief once your consignment is handed over, as it is in safe hands and will be delivered to the assigned place as soon as possible, in same exact condition that it was received in irrespective of the size. The shipping services ensure that this solution is provided to all involved in the import export business.

Once all of this is taken care of an entrepreneur must have knowledge that there are a few schemes that can be availed out of which one is the Merchandise Exports from India Scheme or MEIS. This scheme is under the Foreign Trade Policy of India, and provides the exporter with quite a few incentives, out of which the most important is the one compensating the loss incurred during the payment of duties. This therefore does not allow the exporter to incur any loss, thereby encouraging the exporter in foreign trade, and aiming to showcase Indian products in a more flamboyant and competitive manner in the global market. Incompetent infrastructure is also balanced out, hence generating means of employment, and placing Indian products in the limelight.

If you as an entrepreneur or a company is very keen on starting an import export business, let us inform you that you should go right ahead and do it now, as there is an immense scope for the same with the liberalization of trade deals that are being signed in support of Indian trade. So, take that all important first step, not being confused with the thought as to How to export from India. Remember, you should be equipped with the thorough knowledge regarding all the necessary documentation. This is of prime importance. This process begins with registering, once the application is filled, submitted and on receiving an import export code or an IEC your dream job has begun.

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