Question by sanjana: Is it necessary to have import export license to start import business ?
Do i need to have an import export license to start import business in India
I want to import gas water heater, hobs and chimneys
Best answer:
Answer by llllllllllllllllll
it depends on what you are going to import, Any product declared as Freely Importable Item does not require import licenses. Most capital goods
While the majority of the goods are freely importable, the Exim Policy (2007) of India prohibits import of certain categories of products as well as conditional import of certain items. In such a situation it becomes important for the importer to have an import license issued by the issuing authorities of the Government of India.
In India, Import License is issued by the Director General of Foreign Trade. DGFT Delhi office is situated in Udyog Bhawan, New Delhi 110011.
Import Licenses are valid for 24 months for capital goods and 18 months for raw materials components, consumable and spares, with the license term renewable.
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1 Response
If I understood you correctly, you want to know whether one needs to have any Licence to do import business. If you are just a facilitator (acting as Indenting Agent etc), you do not need any Licence. On the other hand, if you intend to import gas water heater, hobs and chimneys on your name or your company name, you need Importer Exporter Code (aka IEC) issued by Director General of Foreign Trade to START import business in India.
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Posted on July 24th, 2011 at 4:32 pm
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