Discuss the formalities involved in getting an export license.

The formalities involved in getting an export license are:

a. Opening a bank account in any Bank authorized by the Reserve Bank of India and get an account number.

b. Obtaining an import-export code IEC number from the Directorate General of foreign trade or regional import-export licensing authority.

c. Registering with the appropriate export Promotion Council.

d. Registering with export credit and guarantee Corporation to protect against the risk of nonpayment.