Are you an exporter looking to take your business to new heights? The Federation of Indian Export Organisations (FIEO) can help you achieve your goals. FIEO is the apex body of the Indian government-recognized Export Promotion Councils, Commodity Boards, and Development Authorities. To enjoy the benefits of FIEO’s services, facilities, credentials, and global reach, you first need to become a member. In this blog post, we’ll delve into the features of FIEO registration and how to obtain the RCMC certificate. Let’s explore the world of FIEO registration in India.
I. Introduction to FIEO Registration in India
A. Definition of FIEO
Federation of Indian Export Organization (FIEO) is an organization that was established jointly by the Ministry of Trade and Commerce and the private trade and industry sector in 1965. It serves as an important partner for the government in promoting India’s exports. FIEO’s core function is to promote international trade, represent and assist entrepreneurs, and exporters in the foreign market.
For a business to become a member of FIEO, they have to register and obtain an RCMC certificate. This registration helps businesses to get the necessary guidance and support to expand their exports globally, including guidance on important issues like the Foreign Trade Policy (FTP). FIEO registration holders can also avail of various benefits such as global exposure, concessions to MSMEs, and discounts from various credit rating agencies and travel agencies.
FIEO represents the interests of government-recognized exporting firms such as Export House/Star Export House/Trading House and is not only involved in the export of merchandise but also in the export of services. FIEO membership has two categories: Ordinary Membership for new entrants to the export and import business and Associate Membership for companies that have been in the export and import business for a long time. FIEO is committed to promoting India’s exports by providing vital support and benefits to businesses that wish to enter and succeed in the global market.
B. Importance of FIEO Registration
Federation of Indian Export Organizations (FIEO) is a government-recognized body that has been instrumental in promoting international trade since its inception in 1965. One of FIEO’s critical roles is to assist entrepreneurs and exporters in expanding their business and penetrating foreign markets.
FIEO registration is essential for organizations involved in export and import businesses in India and serves as an RCMC certificate holder. The registration aids in government documentation, provides access to FIEO’s services and facilities, and helps exporters in obtaining benefits under the Foreign Trade Policy.
Furthermore, FIEO membership provides global exposure, international trade knowledge, and support in key areas such as Foreign Trade Policy (FTP) and various concessions to MSMEs. FIEO enables exporters to take advantage of opportunities such as trade shows, exhibitions, buyer-seller meets, and market research.
FIEO registration is also beneficial to individual exporters who do not wish to obtain an RCMC. The registration promotes transparency, quality standards, and helps ensure compliance with government rules and regulations. Aside from these benefits, FIEO members receive discounts on domestic and international airfare, access to online platforms such as eBay and Amazon, and guidance on corporate and legal affairs.
In summary, FIEO registration plays a crucial role in assisting Indian exporters and enabling them to tap into global markets by providing access to vital resources, information, and services.
C. Benefits of FIEO Membership
Being a member of the Federation of Indian Export Organizations (FIEO) provides a range of benefits to exporters in India. Some of the advantages of obtaining FIEO membership are:
– Business involvement in exports and imports: FIEO membership makes businesses eligible to participate in export promotion activities such as trade fairs, exhibitions, business seminars, and interactive meetings.
– Possession of Import Export Code (IEC): FIEO membership is necessary for getting an Import Export Code (IEC), a 10-digit number issued by the DGFT, which is mandatory for all importers and exporters in India.
– Declaration of main line of business: To obtain the FIEO’s Registration-cum-Membership Certificate (RCMC), applicants must declare their main line of business.
– Approval from relevant Export Promotion Board (if applicable): FIEO requires approval from relevant export promotion boards for certain products, such as agriculture or handicrafts.
– Ordinary Membership: Ordinary Membership gives businesses access to a wide range of FIEO services, facilities, credentials, and global reach.
– Associate Membership: Associate Membership is for companies already established in the export-import business and provides them with access to specialized services and participation in FIEO’s policy-making process.
FIEO membership helps Indian businesses save money and time by streamlining documentation and procedures related to exports. Furthermore, FIEO promotes the interests of Indian exporters at the national and international level, making it crucial for India’s export industry.
II. Eligibility Criteria for RCMC Registration in FIEO Membership
A. Business involvement in exports and imports
Business involvement in exports and imports is an essential aspect of the global economy. Many businesses in India have recognized the benefits of exporting their products and services to foreign markets. At the same time, importing goods and services from other countries can also prove to be profitable. However, before engaging in international trade, businesses are required to register with organizations such as the Federation of Indian Export Organizations (FIEO).
FIEO is a non-profit organization that aims to promote and facilitate the growth of exports in India. It provides various services and benefits to its members, which can significantly aid businesses in expanding their reach into foreign markets. One of the primary requirements for joining FIEO as a member is possessing an Import Export Code (IEC) issued by the Directorate General of Foreign Trade.
Businesses seeking FIEO membership are also required to declare their primary line of business, among other requirements. Depending on the type of membership, approval may also be necessary from the relevant Export Promotion Board. There are two types of FIEO membership – Ordinary and Associate. The former is open to businesses directly involved in exporting, while the latter is for those providing supporting services to exporters.
The registration process for FIEO membership can be done online through Instabill. Businesses need to provide the required documents, which may differ based on the membership type. Successful registration under FIEO can result in several advantages, such as obtaining the Registration Cum Membership Certificate (RCMC), which can help businesses secure various benefits and concessions from the government. Overall, FIEO registration is crucial for businesses looking to promote India’s exports and establish a strong presence in the global marketplace.
B. Possession of Import Export Code (IEC)
Possession of Import Export Code (IEC) is mandatory for any entity or individual to import or export goods and services in India. The IEC is a unique 10-digit alpha numeric code based on the PAN of the entity or individual. An IEC allotted to an applicant shall have permanent validity, but it is mandatory to update the IEC annually to keep it active. The following are some important facts related to IEC which every entity or individual should know before applying for it:
– An individual or a company can get an IEC if they want to do international business.
– The fee for IEC application is Rs. 500/-.
– The applicant needs to have valid digital signature tokens (Class II or III), valid mobile number and email ID, valid address details of the branch office, a valid bank account in the name of the IEC holder, and a valid Aadhar card that matches the details with the PAN card.
– The new DGFT portal is compatible with the latest versions of Google Chrome, Mozilla Firefox, Microsoft Internet Explorer, and Apple Safari.
– The application for IEC has to be filed online (ANF 2A format) on the DGFT portal.
– The applicant needs to register their digital signature details on the DGFT portal to apply for IEC.
– The IEC certificate can be printed from the DGFT portal.
Possession of IEC not only enables an entity or individual to engage in international trade but also serves as a unique identification code for all its transactions.
C. Declaration of main line of business
One the requirements for FIEO registration is the declaration of your main line of business. This is necessary because FIEO serves as an exporter’s Export Promotion Council and the government recognizes FIEO as such. If an export product is not covered by any Export Promotion Council/Commodity Board, then an RCMC must be obtained from FIEO. For multi-product exporters not registered with any EPC, FIEO is the registering authority. By registering with FIEO, an exporter can get benefits under the Foreign Trade Policy and avail of FIEO’s service facilities, credentials, and global reach.
FIEO has different types of memberships, ordinary and associate membership. Anyone who wishes to become a member of FIEO but doesn’t want to obtain the RCMC can still enroll as an Individual Exporter under the FIEO category. Annual membership subscriptions under different categories apply. Furthermore, FIEO organizes export promotions activities such as trade fairs, exhibitions, BSM, interactive meetings, and workshops. Being a member of FIEO, an exporter can be updated about these activities and participate in them, thereby contributing to the promotion of India’s exports.
D. Approval from relevant Export Promotion Board (if applicable)
Approval from relevant Export Promotion Board (if applicable)
If you are planning to register with FIEO, you might need approval from the relevant Export Promotion Board, if applicable. The Export Promotion Board (EPB) is a government authority that represents and regulates export activities in different sectors. It promotes Indian goods and services in the international market and provides various benefits to the exporters.
The EPB provides assistance to exporters for obtaining licenses, permits, and certificates required to export their goods or services. They also provide information and guidance related to international trade regulations, tariffs, and export financing options. The EPB approves and certifies exporters according to their category, product, and region.
If your business falls under a specific sector, such as agriculture, chemicals, handicrafts, textiles, etc., you might need to obtain EPB approval to avail of export benefits and concessions. The EPB may also require you to comply with certain standards, such as quality standards, environmental standards, or social standards.
To apply for EPB approval, you need to submit your application along with the required documents, such as the RCMC certificate, export contract, bill of lading, and other necessary certificates. Once your application is approved, you can enjoy the benefits of FIEO membership and promote your exports to the world.
III. Types of Membership for RCMC Registration under FIEO
A. Ordinary Membership
Federation of Indian Export Organizations (FIEO) offers two types of membership for the registration of RCMC – Ordinary Membership and Associate Membership. Ordinary membership is the basic membership, aimed at organizations that have recently entered into the export and import business. The annual fee for ordinary membership is INR 12,000 + 18% GST. This form of membership provides access to essential services offered by FIEO. Members can attend trade fairs, exhibitions, Business-to-Business (B2B) meetings, and workshops conducted by FIEO. This enables them to expand their business by attracting new clients and exploring international markets. FIEO also offers weekly e-bulletins that provide updates on worldwide developments affecting foreign trade-related information and international trade.
Ordinary membership also allows members to seek online guidance from FIEO on key areas of global trade, such as Foreign Trade Policy (FTP) and corporate laws. FIEO members can avail themselves of a 10% discount on all domestic and international air tickets, and they also receive 10% off credibility analysis services from prominent credit rating agency CRISIL. By registering for ordinary membership, exporters can access a range of tailored services and platforms that help enhance their competitiveness in the global marketplace.
B. Associate Membership
Associate with FIEO is an excellent option for those businesses who are not fully involved in exports but may gain some benefits from FIEO’s services and facilities. This membership is suitable for companies that provide ancillary services to exporters, such as transportation, packaging, and logistics. FIEO also welcomes professionals, educational institutions, and individuals working in the export sector to become associate members.
One of the main advantages of associate membership is that businesses can still benefit from FIEO’s services and facilities without being involved in exports on a large scale. For example, associate members can participate in FIEO’s trade fairs, exhibitions, interactive meetings, and workshops to gain knowledge and network with other members of the export community. They can also access FIEO’s research and market intelligence reports to stay updated on the latest trends and opportunities in the export sector.
Moreover, associate membership can also help businesses to build their credibility in the export market. By being associated with FIEO, even as an ancillary service provider, businesses can showcase their commitment to promoting India’s exports. This can help in building trust with potential customers and partners, which can lead to more business opportunities in the future.
Overall, associate membership with FIEO offers a great opportunity for businesses to benefit from the organization’s services and facilities, even if they are not fully involved in exports. With a low annual subscription fee, businesses can gain access to a wide range of resources to help them grow and succeed in the export sector.
IV. Registration process for FIEO
A. Online Registration through Instabill
Applying for FIEO Registration has never been easier with the help of Instabill’s online registration services. With just a few clicks of a mouse, exporters can access FIEO’s various benefits, including discounts on credibility analysis services, international air tickets, and more. Instabill also facilitates business banking solutions in association with ICICI Bank and provides lending solutions for business needs with NeoGrowth. Trusted by Axis bank to cater to its clients’ licensing and compliance needs, Instabill is dedicated to providing expert help and assistance to FIEO exporters. The online registration process through Instabill is simple and user-friendly. Applicants only need to fill in mandatory information like the name of the firm, type of entity, and IEC number. Furthermore, applying for FIEO Registration through Instabill ensures easy compliance with government rules and regulations. Obtaining an RCMC Registration under FIEO Membership can help exporters increase their global exposure and access guidance on various areas of global trade. With the help of Instabill, FIEO Registration is now just a few clicks away.
B. Required documents for FIEO Registration
To become a member of the Federation of Indian Export Organisations (FIEO), exporters are required to obtain a Registration-cum-Membership Certificate (RCMC) by submitting the necessary documents to the organization. Some of the required documents for FIEO registration include a certificate from a chartered accountant certifying the export turnover figure, a list of partners or directors with residential addresses, and proof of possession of an Import Export Code (IEC). The process of obtaining an IEC code requires submitting the import-export code application online and obtaining a digital signature from the company’s owner or director. Additionally, for service exporters who have been in business for three years or more, the exporter’s chartered accountant must certify the exporter’s service export data. FIEO provides an essential interface between the international trading community of India and the central and state governments, financial institutions, ports, railways, and surface transport, among others. With FIEO membership, exporters can benefit from comprehensive advice on essential aspects of international trade policies and gain global exposure.
VI. Conclusion and Benefits
A. Advantages of RCMC Registration under FIEO
One of the significant advantages of RCMC registration under FIEO is the business involvement in exports and imports. With an RCMC certificate, businesses can engage in the export-import sector while complying with government rules and regulations. The possession of Import Export Code (IEC) is also mandatory for obtaining RCMC registration. Another benefit of RCMC registration is the declaration of the main line of business, which is essential for identifying the appropriate export promotion board (if applicable). Furthermore, approval from the relevant Export Promotion Board is necessary for products to fall under specific boards such as Coffee and Tea Promotion Board. The FIEO offers two types of membership, Ordinary and Associate, for newly established and long-standing export-import businesses.
With RCMC registration, businesses can take advantage of FIEO membership benefits such as market access initiative grants, subsidised booths at international exhibitions, and access to FIEO’s search engine, which allows buyers to search for exporters from India. FIEO provides guidance to exporters in terms of global exposure, foreign trade policies, and corporate laws, among others. Online registration through Instabill makes obtaining FIEO registration easy, and there are several documents required for FIEO registration, such as the letter of authority, declaration of export and import activities, and export turnover. With FIEO RCMC membership, businesses can file a quarterly export-import performance report and stay updated on India’s foreign trade policy.
B. Significance of FIEO Registration in promoting India’s exports
Federation of Indian Export Organisations (FIEO) is the apex body of the Government recognised Export Promotion Councils Commodity Boards and Development Authorities in India, set up in 1965 by the Ministry of Commerce, Govt. of India. FIEO plays a significant role in promoting India’s exports by providing essential services, facilities and global reach to its members. FIEO is recognised as a Registering Authority for status holder exporting firms and multi-product exporters, and also issues Certificate of Origin (Non-Preferential), required by many countries as proof of origin of the goods. By registering with FIEO, an exporter can avail benefits under the Foreign Trade Policy, as well as FIEO’s services. FIEO participates in various promotional activities, such as trade fairs, exhibitions, BSM, interactive meetings and workshops, to boost international trade from India. It provides crucial interface between the Indian international trade community and the Central and State Governments, financial institutions, ports, railways, surface transport, and all engaged in export trade facilitation. FIEO organises many country-specific programmes to prepare exporters for various global markets, and exchanges business delegations, arranges exhibitions and B2B meets with the members of trade from various countries. Overall, FIEO has become an essential element of promoting India’s exports through its various services and active participation in trade-related activities.
VII. Documents Required for FIEO Registration in India
1. Certificate of Incorporation or Registration Certificate in case of Proprietorship
2. Memorandum and Articles of Association (MOA/AOA)
3. PAN card of the company or Proprietorship
4. Bank statement for the last six months
5. Export invoices of last year
6. GST registration certificate
7. IEC certificate
8. Passport size photographs of the Directors/Proprietor
9. Identity and Address proof of Directors/Proprietor.
VIII. Advantages of FIEO Registration in India
1. Access to benefits and assistance provided by government schemes
2. Impart knowledge to exporters about export procedures, documentation, and product marketing
3. Provides export opportunities through various international trade fairs and exhibitions organized by FIEO.
4. Assists in resolving the problems faced by exporters
5. Participate in policy framing and suggestions to the government on various trade-related issues.
IX. Disadvantages of FIEO Registration in India
1. FIEO membership fees are higher than most other trade associations
2. There may be limited opportunities for certain business sectors
3. There is a requirement to fulfill their standards to qualify for the opportunity to participate in trade programs.
X. Process of getting FIEO Registration in India
1. Fill the FIEO application form available on the official website
2. Attach the required documents
3. Submit the application along with the membership fees
4. The FIEO team will verify the information provided in the application and documents.
5. Once the approval is granted, FIEO membership will be issued.
XI. Types of FIEO Registration in India
1. General Exporter/Manufacturing Membership – For exporters and manufacturers across various sectors
2. Status Holder Membership – For exporters who have achieved a certain level of exports in the previous year
3. Joint Venture Membership – For entities formed jointly with non-resident entities
4. Associate Membership – For firms engaged in export-related activities, such as freight forwarding or customs consulting.
XII. Frequently Asked Questions about FIEO Registration in India
1. What is FIEO, and what is its role in India’s export industry?
FIEO stands for the Federation of Indian Export Organizations. It promotes and supports Indian exporters, identifies export opportunities, and offers assistance to exporters to improve their international trade.
2. Can small and medium-sized enterprises (SMEs) register as FIEO members?
Yes, any business entity engaged in exporting can register with FIEO, regardless of size.
3. What are the fees associated with FIEO Registration in India, and can they be refunded?
The membership fee depends on the membership category. The fees paid for obtaining FIEO membership are non-refundable.
4. What benefits do FIEO members receive after registration?
FIEO members receive a range of benefits including access to government schemes, assistance with export-related documents and procedures, exhibiting product marketing, government advocacy, and networking opportunities with other exporters.
5. What is the duration of FIEO Registration in India?
FIEO membership is valid for one year from the date of registration. After which it needs to be renewed.