TIEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has a lifetime validity. Predominantly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc. without IEC.

When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.

When an importer sends money abroad through banks then it’s needed by the bank.

When an exporter has to send his shipments then it’s needed by the customs port.

When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank.