FIEO, Federation of Indian Export Organization was instituted jointly by Ministry of Trade and Commerce, and Private Trade and Industry in the year of 1965. The federation of Indian Export Organisation’s main object is promotion of international trade and it is the organisation which is responsible for representing and assisting exporters and entrepreneurs in a foreign market. FIEO works actively in order to extend and enhance Indian market and exports. Not limited to promotion of export of merchandise, FIEO also promote the export of services. This organisation also represents the interests of government recognized exporting firms. The working of FIEO is an indicative for the Indian businessmen who are indulged in import-export market. By way of FIEO registration, FIEO is engaged in and regulates export related organisations in India. It is suffice to say that it is Government of India’s partner in promoting India’s exports. Because of FIEO registration, businessman are able to enjoy benefits of global exposure as they are now guided on key areas of global trade such as Foreign Trade Policy (FTP) and various concessions to MSMEs.
There are certain benefits for an exporter to register with FIEO. It provides the exporters with a proper guidance in relation to international exposure.
Registration with FIEO benefits the exporters with free online business. Portals like amazon and e-bay has come as a boon for FIEO members. These portals gives members a convenience to run online stores for free. Amazon provides the said service free for 3 months and E-bay provides the same for 6 month.
The exporters would also enjoy the affordable and ease in credit rating. Various credit rating agencies provide benefits to the members of FIEO. Like, one of the prominent credit rating agencies, namely, CRISIL provide the exporters with a discount of 10% on credibility analysis services.
Foreign Trade Policy, mandates an exporter to get the Registration-cum-membership Certificate (RCMC) to avail the benefits under this policy, provided to the exporter. For the purpose of registration, FIEO has been recognized as Export Promotion Council. India has 26 export promotion councils and 9 commodities board, which carry the responsibility to issue RCMC. They have been provided with the authority to issue RCMC to the exporters by the Central Government. The commodities board and export promotion council classify itself on the basis of type of products.
RCMC issued will be deemed to be valid from 1st of April from the year of issue of license and will be valid for five years.
There are implications on RCMC holder regarding change in any constitution. If any adjustment in constitution, possession, name and address of an exporter, it is mandatory for the RCMC holder to imply such a change to the enrolling authority within 30 days from date of that change. Authority may acknowledge defers made on merits. Another implication is that the outfitting of quarterly return/subtleties of the fares of various products to the concerned enrolling authority. If the quarterly sent comes back to FIEO in the configuration that is indicated by FIEO.
Registration for exporters: any exporter desiring for RCMC have to declare his primary line of business in the application that is to be submitted to the EPC (Export Promotion Council) identifying with such line of business.
The item, if isn’t secured by the Commodity board/Export Promotion Council then the RCMC desired shall be procured from FIEO itself.
If multi item exporters occurs, not enlisted with any Export Promotion Council, where the line of business is not settled yet then the exporter shall file with the Federation of Indian Exporters Organization to procure RCMC.
Exporter desiring RCMC must fill the application properly in the specified format as given in the appendices register along with the requisite documents and may become a member of EPC. Documents requisite are:
- Application for Registration –cum- Membership, clearly mentioning the information of business line.
- Copy of the Importer and Exporter Code (IEC) number, self-attested by the applicant.
- Applicant’s Bank Statement.
- If the applicant is in the business of manufacturing, then a SSI/IEM certificate.
- Declaration of business effected during precedent FY in relation to the export and import.
- In case of companies, a copy of Memorandum and Article of Association and in case the applicant is partnership firms, then the applicant’s partnership deed is required to be submitted.
The desired RCMC will be provided by the concerned authority only after scrutinizing the applicant and the requisite documents. If the concerned authority is not satisfied with the information and the documents, it would provide the applicant with a reasonable opportunity to defend themselves. And thereafter may issue the desired RCMC or reject the application. Once RCMC issued, will be valid for 5 years.
If the Export Promotion Council finds any exporter violating the conditions of the registration, the council may de-register the exporter for a specific span of time, after providing a reasonable opportunity to the exporter to defend himself.