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For doing any business of import or export wheather as an individual or as an entity you have to take an import export code issued by dgft without that you can’t do any business of import or export .. You can say that iec is a very first and requirement for your business as an importer or exporter.
Import export code (iec) is a unique pan based 10 alphanumeric code provided to every importer or exporter..
As an importer you can’t do anything in your business without this iec code.
As an exporter you can’t take any benefits from dgft,customs,export promotion council in relation to your export without this code.
Advantages of iec code:
1.) Expand your business globally.
2.) Government proof of your business which help you in your business a lot .
3.) You don’t need any further proof of your export or import in .
4.) Subsidies of imports
5.) Subsidies of exports