The first requirement before you start an import/ export business in India is to obtain an IEC. In India having Online IEC Registration is mandatory for exporting as well as importing goods in India for business. Where as a business is in Service export import then IEC is required in only limited circumstances.
IEC Code is ten digit number generated by Director General of Foreign Trade and Ministry of Commerce. IEC can be obtained from any of the Zonal and Regional offices of Director General of Foreign Trade depending on area/region where the individual/company is located. Only one IEC would be issued against a single PAN number. On the basis of IEC, companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc. The customs will not allow for clearance of goods unless the importer has obtained an Import Export Code (IEC) registration from the regional authority.