The Federation of Indian Export Organizations (FIEO) represents more than 100,000 exporters across India, providing them with assistance and benefits that can improve their export businesses. This blog will tell you all about the apex body and its role in Indian exports.
India’s exports are expected to grow to USD 290 billion by the end of this financial year1! Exporters from India have a growing number of opportunities to start their export businesses based on this data. The interesting thing is that this is a two-way chain: While demand for ‘Made in India’ products is growing globally, exporters are also identifying this trend and using it to expand their business.
The Federation of Indian Export Organisations (FIEO) was formed to assist and support thousands of such exporters. Designed to supervise and promote exports in the country, the Ministry of Commerce established this body.
For entrepreneurs looking to expand globally, reduce costs, and tap a larger market, exports through ecommerce are not only a viable option, but also hassle-free. The organization has also encouraged exporters to take advantage of this growing opportunity by opting for e-commerce exports that can be done anywhere, anytime in India. Are you wondering how to export from India? You can do it! We will explain the import export policy, FIEO, and the registration process in this blog.
Role of FIEO in India’s export trade
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For all Indian exporters, the apex body plays a vital role in coordinating export activities. To supervise and ensure easy trade from India, it acts as a medium between exporters and various export organizations around the world. Exporters have a better chance of flourishing in this environment.
- FIEO assists in reviewing, authorizing, and recommending to the government grievances and import-export policies that can benefit Indian exporters.
- Trade missions, economic missions, and export houses are sponsored by it.
- In order to promote Indian products in the global market, the Federation of Indian Export Organisations organizes media, publications, exhibitions, and trade fairs.
- It maintains an important relationship with various international organizations involved in global trade, such as the ITC, WTO, and IMF.
- The Federation of Indian Export Organizations also offers sponsorships for Indian exporters, including grants for market development, reimbursement of travel expenses for services related to India’s consulting.
What are the benefits of FIEO registration?
An FIEO registration allows sellers to take advantage of the benefits granted by the foreign trade policy. An RCMC (Registration-cum-membership Certificate) validates the seller’s export business and marks it as authorized by the Indian government. This certificate can be obtained by becoming a member of FIEO. RCMC offers the following benefits:
- Foreign Trade Policy offers concessions and benefits to exporters.
- RCMC registration entitles an exporter to join a worldwide network of exporters and importers.
- In addition, holders of certificates can participate in international exhibitions and trade fairs, where their products can be showcased.
- Additionally, holders of the RCMC certificate are eligible for various incentive programs and profit-making schemes.
The Federation of Indian Exports helps its members promote their businesses internationally and access the Foreign Trade Policy offers and schemes that benefit them. Exporters benefit from FIEO in the following ways:
- A RCMC is automatically issued by FIEO to both status holders and non-status holders (under multiple product categories) so they can benefit from the concessions offered by the Foreign Trade Policy.
- FIEO organizes meetings to inform exporters about upcoming delegations so they can make the most of them.
- Members have the opportunity to discuss issues with higher authorities such as excise, customs, DGFT, etc. We treat their problems as a priority and resolve them as soon as possible.
- The Federation of Indian Export Organization offers its members a 10% discount on FIEO membership fees for 5 years and a 5% discount on membership fees for 3 years.
- For policy or trade-related concerns, members have the option of using FIEO’s online chat facility.
- Members have the opportunity to discuss issues with higher authorities such as excise, customs, DGFT, etc. We treat their problems as a priority and resolve them as soon as possible.
What documents are required for FIEO registration?
Please submit the completed and signed RCMC application form along with the following self-attested copies:
- Number of IEC
- PAN card
- GST registration certificate
- Bank statement
- Articles of association, partnerships deeds, and trust deeds (if any).
- Certificate of SSI/IEM (for manufacturing goods.)
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