Discuss the formalities involved in getting an export license

international-trade
cbse

#1

The formalities involved in getting an export license are as follows :

  1. Opening a bank account in any bank authorised
    by the Reserve Bank of India (RBI) and getting an account number.
  2. Obtaining Import Export Code (IEC) number from the Directorate General of Foreign Trade (DGFT) or Regional Import Export Licensing Authority.
  3. Registering with appropriate Export Promotion
    Council.
  4. Registering with Export Credit and Guarantee Corporation (ECGC) in order to safeguard against risks of non-payments.