The full form of a DUNS Number is Data Universal Numbering System Number. It is a unique nine-digit identifier assigned to businesses worldwide by Dun & Bradstreet. It functions as a global business identifier, helping companies establish a verified and trusted presence in the market.
This number is used by lenders, suppliers, and government agencies to assess your business’s credibility, financial stability, and creditworthiness—making it essential for securing funding, contracts, and expanding your operations.
Why is a DUNS Number So Important for Your Business in India?
A DUNS Number opens doors for your Indian business in numerous ways:
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- Global Recognition: It provides your business with a unique and internationally recognised identity, building trust with potential partners and customers worldwide.
- Creditworthiness: Many global organisations, financial institutions, and even governments use the DUNS Number to assess a company's economic stability and reliability. It's a vital tool for credit risk assessment.
- Access to International Markets: A DUNS Number is often a prerequisite if you plan to apply for IEC or collaborate with foreign companies.
- Government Contracts: For specific government contracts, particularly those with international ties, a DUNS Number may be mandatory.
- App Store Listings: The Apple Developer Program and Google Play Store often require a DUNS Number for business accounts, especially for organizations.
- Verification and Trust: It serves as a verification tool, assuring potential partners that your business is legitimate and credible.