Import Export Code (IEC) is required by any business that is looking forward to start an import export trade from India. IEC is a 10 digit unique code which is issued by the Directorate General of Foreign Trade (DGFT).
The IEC comes with lifetime validity and needs no renewal and through this code, businesses gets various benefits from DGFT and customs & export promotion council.
In the national interest or to regulate the trade or any specific commodity, the central government may restrict or prohibit the import and export of certain goods. In case you wish to import any item which has been prohibited and restricted, you will have to seek special permission from DGFT, explaining in details the specific reason for importing the restricted item.