MSME Registration

Registering for an IEC license online in India is a straightforward process that can be completed in a few steps. To start, visit the official website of the Directorate General of Foreign Trade (DGFT), which handles IEC registration. If you are a new user, register for a new account by providing basic details like name, email address, and phone number. Once registered, log in to the DGFT website using your email ID and password. Access the ‘Online IEC Application’ form from the homepage and fill in the required details, such as firm or individual name, PAN number, bank account details, and contact information, along with necessary documentation. Pay the application fee online through internet banking, debit card, or credit card. Review the application and click on ‘Submit’. You can track the status of your application online, and upon approval, an IEC certificate will be sent to your registered email ID.

MSME registration offers a host of benefits to registered entities in India. These benefits include access to cheaper loans with interest rates as low as 1.5%, credit carry forward for Minimum Alternate Tax (MAT) for up to 5 years instead of 10 years, availability of rebates and concessions, concessions on patent registration, access to Government e-Marketplace and e-tenders through the Udyam Registration Portal, One Time Settlement Fee for payment issues with vendors, eligibility for government schemes such as Public Procurement Policy, Credit Linked Capital Subsidy Scheme, and Credit Guarantee Scheme.