BUSINESS

DGFT clarification

NEW DELHI: The Directorate General of Foreign Trade in a circular on Monday clarified that a branch office of a foreign company could get the Importers Exporters Code (IEC) number if the Reserve Bank of India had given its permission under the Foreign Exchange Management regulations. The branch offices of the foreign firms in India would, therefore, have to apply to the jurisdictional authority along with necessary supporting documents, the circular said.

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