In order to help them grow their export companies, the Federation of Indian Export Organisations (FIEO) represents more than 100,000 exporters throughout India. We will explain the function of the apex organization in promoting Indian exports in this blog. The continuous increase in India’s exports is creating new chances for MSMEs. Exporters can now sell internationally without opening a store abroad thanks to technological advancements and the internet.
What do we know about the Federation of Indian Export Organisations?
The Federation of Indian Export Organisations (FIEO), established by the Ministry of Commerce, is an organization tasked with overseeing and advancing exports inside the nation. FIEO actively works to address problems and challenges exporters experience with various agencies and processes and finds the best solution for them, all with the primary goal of assisting exporters in expanding their operations internationally. The headquarters of FIEO are in New Delhi, and the organization supports business owners in expanding their operations globally.
What role does the Federation of Indian Export Organisations play to enhance export trade?
● In order to support Indian exporters, the Federation of Indian Export Organisations reviews, approves, and recommends import-export laws and grievance procedures to the government.
● It supports export houses, trade, and commercial missions.
● To promote Indian goods in international markets, the Federation of Indian Export Organisations organizes trade shows, publications, media, and exhibitions.
● The organization keeps up connections with numerous international organizations, such as the ITC, WTO, IMF, and others, that are crucial to world trade.
● The Federation of Indian Export Organisations offers sponsorships to Indian exporters, including Market Development Assistance grants and reimbursement for travel expenses incurred in connection with India-related consultancy services.
What types of services are offered by the Federation of Indian Export Organisations?
The Federation of Indian Export Organisations provides exporters with a number of services. Listed below are a few of them:
● A weekly bulletin to keep exporters informed about the most recent information and advancements in global trade and India’s foreign trade industry.
● Complimentary usage of the Indian Trade Portal, providing information on import data from 87 nations, preferential tariffs, MFN tariffs, SPS/TBT, and India’s import share.
● Exporters can ask questions on arbitration, technology transfer, international agreements, corporate legal matters, brand management, trademarks, and copyrights to dedicated chat services on the FIEO website.
● Specialised foreign exchange services, like the FOREX Matrix, Currency Source, LIBON Rate, Forward Calculator, Forward Rates, Spot Rates, and Historical Data.
Benefits derived from the Federation of Indian Export Organisations registration
A) Benefits and concessions granted by the Foreign Trade Policy are received by farmers.
B) A registered RCMC exporter joins a global network of importers and exporters.
C) The certificate holders have access to participate in a range of international trade shows and exhibitions, which provide them with a platform to present their goods to a global audience.
D) The government also offers lucrative plans and a number of incentives to holders of RCMC certificates.
E) For the purpose of obtaining the benefits offered by the Foreign Trade Policy, FIEO automatically grants RCMC to both status holders and non-status holders.
F) To help its members make the most of it, FIEO arranges briefings to inform exporters about the approaching delegations.
G) Members can talk about problems with higher authorities like DGFT, excise, and customs. Their issues are addressed with urgency and fixed.
H) A 10% discount is available for five years of membership fees and a 5% discount is available for three years of membership fees for members of the Federation of Indian Export Organisation.
I) FIEO provides its members with an online chat feature where they can make international calls regarding issues relating to trade or policy.
Eligibility to obtain RCMC from FIEO
To obtain RCMC, service providers, manufacturers, merchants, and merchant-cum-manufacture-exporters must register with FIEO. The following criteria apply for the same:
● If a product is not covered by a Commodity Board or Export Promotion Council, the exporter may register it with FIEO.
● If the exporter is a multi-product exporter and is not registered with any EPC, they can receive RCMC from FIEO.
● For service exporters who export services other than the 14 services listed by the Handbook of Procedures, FIEO acts as a registration authority.
Documents needed for FIEO certification
1. IEC digit
2. A PAN card
3. Certificate of GST Registration
4. A bank account statement
5. The trust deed, partnership agreement, or articles of association, if any.
6. The SSI/IEM certificate (for the manufacturing business).
Registration process of Federation of Indian Export Organisations
1. Click the ‘Membership’ tab after visiting the Federation of Indian Export Organisations official website. Proceed with the next steps by selecting ‘How to apply for RCMC registration’. From the download tab, you can also get the application form.
2. You will be taken to a new page where you must enter your credentials after selecting the membership tab. Input your password, import export code, and username (IEC).
3. Give details about your export house, including its name, address, and current status, under the tab for regular membership. The status of an export house can range from 1 to 5 stars, including service exporters, 3 to 5 stars, 4 to 5 stars, and registered members of the Association of Institutes, Chamber of Commerce, and EPC.
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