{"id":21394,"date":"2020-12-09T14:00:39","date_gmt":"2020-12-09T08:30:39","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=21394"},"modified":"2024-06-18T10:48:36","modified_gmt":"2024-06-18T05:18:36","slug":"importance-of-iec-code-for-tea-export-in-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/","title":{"rendered":"Importance of IEC Code for Tea Export in India"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The consumption of tea in India is considerably higher than in\nmost countries. As per the latest statistics, India\u2019s tea consumption accounts\nfor \u00be of the country\u2019s total production. If you are interested in setting up a\ntea export house in the country then continue reading this blog till the end.\nBut before we get started with our main topic, let\u2019s dive into some fundamental\naspects of tea export in India.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Overview_of_Tea_Production_in_India\" >Overview of Tea Production in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Tea_Board_of_India-_Regulates_the_Tea_Trading_in_India\" >Tea Board of India- Regulates the Tea Trading in India&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Tea_Production_and_Export_Statistics_in_FY-19_and_FY-20\" >Tea Production and Export Statistics in FY-19 and FY-20<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Importance_of_IEC_Code_for_Exporting_Tea\" >Importance of IEC Code for Exporting Tea&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Core_Benefits_of_Having_IEC_Code_for_Tea_Exporter_in_India\" >Core Benefits of Having IEC Code for\nTea Exporter in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#How_to_Obtain_an_Application_for_IEC_for_Tea_Exporters\" >How to Obtain an\nApplication for IEC for Tea Exporters?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/importance-of-iec-code-for-tea-export-in-india\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overview_of_Tea_Production_in_India\"><\/span>Overview of Tea Production in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Indian Tea is appreciated all around the world for the\nimpeccable fragrance and taste. Owing to continuous innovation and strong\ngeographical indication, the quality and the volume of Indian tea is seemingly\nbetter than the other countries. The tea in India is largely grown in north\nBengal (Darjeeling district and the Dooars region) and the Northeast (including\nAssam). The Nilgiris in South India also produces tea in huge volumes. With\naugmented technology in place, the volume of tea export in India is increasing\nevery passing year.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tea_Board_of_India-_Regulates_the_Tea_Trading_in_India\"><\/span>Tea Board of India- Regulates the Tea Trading in India&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Tea Board was founded under <strong>the Tea Act, 1953<\/strong>, and it has been operational since<strong>\u00a0<\/strong>April 1954. The headquarters of the Tea Board of India is situated in Kolkata. Apart from that, there are also 17 offices across India. The Tea Board of India not only handles the regulatory functions but also undertakes the promotional-related tasks, which include organizing international fairs and exhibitions, facilitating a platform for buyer and seller, sending a trade delegation to promote the country\u2019s export. The board also involve in undertaking several market-centric activities like market analysis, market surveys, analyzing consumer behavior, and distribution of insightful info to business owners engaged in tea export in India.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tea_Production_and_Export_Statistics_in_FY-19_and_FY-20\"><\/span>Tea Production and Export Statistics in FY-19 and FY-20<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>In FY 2019, the total tea export in India was accounted for US$ 830.90 million, meanwhile, in FY 2020 the export value stood at US$ 826.47 million<\/li>\n\n\n\n<li>As India is the leading tea producer globally, the country has secured the fourth position on account of tea export after China, Sri Lanka, and African countries.&nbsp;<\/li>\n\n\n\n<li>In 2019, India grabbed the second position globally in terms of production volume, which was 1,339.70 million kgs to be exact. During Jan-Feb 2020, the estimated production of tea accounts for 30.54 million kgs.<\/li>\n\n\n\n<li>In April-August 2020, the total tea production stood at US$ 281.39 million&nbsp;<\/li>\n\n\n\n<li>India produces wide varieties of teas such as orthodox tea, organic tea, CTC tea, and green tea. Unlike other tea producing nations, our country is outfitted with an ample manufacturing base for both orthodox tea, CTC tea, and Green tea.&nbsp;<\/li>\n\n\n\n<li>Tea production from Assam, high-range Nilgiris, and Darjeeling adhere to the highest quality due to distinctive fragrance, color, and taste. The production from these states contributes significantly to tea export in India.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Importance_of_IEC_Code_for_Exporting_Tea\"><\/span>Importance of IEC Code for Exporting Tea&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In India, the IEC code is issued by the Directorate General of Foreign Trade. IEC code is meant for those who want to dive into the export business. It is important to note down that the IEC code is not an optional requirement, instead, it is mandated by the government for all exporter and importer. In short, no one can export or import goods without an IEC code. With the IEC code at the backup, one can export and import goods as per the norms mentioned under the Foreign Trade Policy. IEC code is supposed to be attached to every shipping document related to eligible exportable goods.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Functional-Aspects-of-IEC-Code.png\" alt=\"Importance of IEC Code for Exporting Tea\" class=\"wp-image-21396\" width=\"442\" height=\"442\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Functional-Aspects-of-IEC-Code.png 1000w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Functional-Aspects-of-IEC-Code-150x150.png 150w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Functional-Aspects-of-IEC-Code-300x300.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/Functional-Aspects-of-IEC-Code-768x768.png 768w\" sizes=\"(max-width: 442px) 100vw, 442px\" \/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Core_Benefits_of_Having_IEC_Code_for_Tea_Exporter_in_India\"><\/span>Core Benefits of Having IEC Code for\nTea Exporter in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Core Benefits of Having IEC Code for Tea\nExporter in India are as follows: <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Increase Market Size<\/h3>\n\n\n\n<p>This is one of the apparent benefits of having IEC code at the\ndisposal. Traders with this code can export to any country and have access to\nadditional markets located worldwide. The increased market size helps in increasing\ntea export in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Life Time Validity<\/h3>\n\n\n\n<p>The IEC code serves the applicants for a lifetime or as long as\nthey engaged with tea export in India. Moreover, the license doesn\u2019t also\nattract any prerequisite for renewal.<\/p>\n\n\n\n<p>When your business is running at a full pace, you don\u2019t have to\nconfront the unnecessary trouble of renewing the license again and again. This\nis one of the prominent benefits of having an IEC license.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Negligible Compliances<\/h3>\n\n\n\n<p>Practically, Import export License or IEC number doesn\u2019t attract any substantial compliance. Simply put, <a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>IEC registration<\/strong><\/a> is very similar to other taxes as there is no obligation of filing a return or any additional information. As soon as you obtained this code, you would become eligible for conducting exporting business in India for a lifetime. This way you can conduct tea export in India without any hassle while keeping the unnecessary complication at the bay.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Access to a Host of Schemes<\/h3>\n\n\n\n<p>Exporters with IEC code can have access to a host of government-based schemes and incentives. These schemes and incentives were employed by the government to boost the trading activities in the country. The infographic below would make you accustom to various export schemes employed by the Government of India for the betterment of exporters.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" width=\"1000\" height=\"1000\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/various-export-schemes-employed-by-the-Government-of-India-for-the-betterment-of-exporters.png\" alt=\"various export schemes employed by the Government of India for the betterment of exporters\" class=\"wp-image-21397\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/various-export-schemes-employed-by-the-Government-of-India-for-the-betterment-of-exporters.png 1000w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/various-export-schemes-employed-by-the-Government-of-India-for-the-betterment-of-exporters-150x150.png 150w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/various-export-schemes-employed-by-the-Government-of-India-for-the-betterment-of-exporters-300x300.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/12\/various-export-schemes-employed-by-the-Government-of-India-for-the-betterment-of-exporters-768x768.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Obtain_an_Application_for_IEC_for_Tea_Exporters\"><\/span>How to Obtain an\nApplication for IEC for Tea Exporters?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>IEC number can be easily availed by visiting the official portal\nof the Directorate General of Foreign Trade (DGFT). On the home page of the\nportal, open the quick links to select the option \u201cApply for New IEC\/Modify\nexisting IEC. Next, you need to enter the PAN and hit the search tab. This will\ngive you access to the page where you need to enter the Company\u2019s name and\nIncorporation date. The portal will verify the given information from the CBDT\nPAN Web Server. After validating the information, you will access to e-form for\nthe IEC code application.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India is a leading tea exporter in the world. The production volume of tea in our country is huge and had remained consistent over the years. And this makes tea export the most favourable business option for new entrepreneurs. In case if you are willing to set up a tea export business in India then you have to obtain an IEC code in the first place. Kindly, head over to <a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a> expert in case if you wish to obtain an IEC code without a minimum of hassles and paperwork.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-export-goods-from-india-to-overseas-markets\/\">\nHow to Export Goods from India to Overseas Markets?\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The consumption of tea in India is considerably higher than in most countries. As per the latest statistics, India\u2019s tea consumption accounts for \u00be of the country\u2019s total production. If you are interested in setting up a tea export house in the country then continue reading this blog till the end. But before we get [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":21402,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1297],"acf":{"service_id":"16"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4518,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/21394"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=21394"}],"version-history":[{"count":15,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/21394\/revisions"}],"predecessor-version":[{"id":64826,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/21394\/revisions\/64826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/21402"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=21394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=21394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=21394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}