The formalities involved in getting an export license are as follows :
- Opening a bank account in any bank authorised
by the Reserve Bank of India (RBI) and getting an account number.
- Obtaining Import Export Code (IEC) number from the Directorate General of Foreign Trade (DGFT) or Regional Import Export Licensing Authority.
- Registering with appropriate Export Promotion
- Registering with Export Credit and Guarantee Corporation (ECGC) in order to safeguard against risks of non-payments.