If you are based in India and want to withdraw money from PayPal to your local bank account (or your credit card), you need to have an Importer Exporter Code.
The Importer Exporter Code, or IEC in short, is normally required by manufacturers and companies for international trade but with this new RBI ruling, the hundreds [...]How to Get an Exporter Code in India for PayPal
How to Get an Exporter Code in India for PayPal
February 27, 2010 By 1 Comment
BTW, eLagaan.com has some detailed instructions and information about the IEC code take a look at http://elagaan.com/business/import-export-code-iec . They also provide a service to get you your IEC code.