Recently, the Indian Foreign Trade Directorate General (DGFT) announced modifications to provisions of Chapter 1 and Chapter 2 of the Foreign Trade Policy 2015-2020 pertaining to the Importers-Exporters Code (IEC). The notification said that the IEC holder must ensure that records are electronically modified during the April-June period each year in his IEC.
This modification allows for the submission and upgrades on the DGFT platform of an E-IEC, the IEC electronic edition.
If IEC specifics do not change, this must also be checked online. If the IEC is not updated during the specified time frame, the IEC is disabled.
A screening IEC may also be flagged. IEC holder(s) shall ensure that any device risks are resolved immediately if the IEC is not disabled.
