Import/export code (IEC) as the name suggests, is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to carry out the import of goods/services in India and export of goods/Services from India. Getting IE code is the first step to start trading internationally. IE code has lifetime validity. Exporters cannot get the benefit of exports from DGFT, customs, Export Promotion Council without IE code.
IE code is also mandatory to pay and receive international financial transactions. In short, one cannot legally trade in international market without IE code.