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Discuss the formalities required to fulfill, to get an export licence. 

Asked by Topperlearning User 17th June 2016, 5:21 PM
Answered by Expert

Formalities which are required to fulfill, to get an export licence are

  1. Open a bank account in any bank which is authorised by the Reserve Bank of India and obtain an account number
  2. Obtain Import Export Code i.e. IEC number from the Directorate General Foreign Trade (DGFT) or Regional Import Licencing Authority
  3. Register with proper export promotion council
  4. Register with Export Credit and Guarantee Corporation (ECGC) to safeguard against the risks involved in non-payment
Answered by Expert 17th June 2016, 7:21 PM
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