Discuss the formalities required to fulfill, to get an export licence.
Formalities which are required to fulfill, to get an export licence are
- Open a bank account in any bank which is authorised by the Reserve Bank of India and obtain an account number
- Obtain Import Export Code i.e. IEC number from the Directorate General Foreign Trade (DGFT) or Regional Import Licencing Authority
- Register with proper export promotion council
- Register with Export Credit and Guarantee Corporation (ECGC) to safeguard against the risks involved in non-payment
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