An IEC code is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) in India. This code is used to identify an importer or exporter and is mandatory for any business that wants to import or export goods from or to India.
The IEC code is important because it helps the DGFT to track the import and export activities of businesses and to ensure that they are complying with all applicable laws and regulations. Additionally, the IEC code is used by banks to process import and export payments.