The first requirement before you start an import/ export business in India is to obtain an IEC. An IEC is necessary for import/export of goods. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies.
IEC is not required under the following circumstances:
- Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
- Import/export by government ministries and departments, and certain notified charitable organizations.