India Amends Importer-Exporter Code Rules to Include Mandatory Updates

India's Directorate General of Foreign Trade amended its importer-exporter code (IEC) provisions to mandate that IEC holders ensure that the details of their assigned code are updated every year between April and June. In a Feb. 12 notification, the DGFT said an IEC will be deactivated if an update is not submitted within the allotted time and an IEC may be flagged for scrutiny, in which case the IEC holder must ensure that any flagged risks are addressed in a timely manner. India will also require any IEC updates to be made in an electronic portal. An IEC is a 10-digit identification number assigned by the DGFT to exporters and importers in India.