Overview of FIEO Registration
The Federation of Indian Export Organizations (FIEO) is an acronym for Federation of Indian Export Organizations. In 1965, the Ministry of Trade and Commerce and the Private Trade and Industry together established FIEO. The Organization's principal purpose is to promote international trade and is in charge of representing and aiding entrepreneurs and exporters in overseas markets. As a result, FIEO is actively trying to expand and improve India's market and exports.
Export House/Star Export House/Trading House is a government-recognized exporting firm that represents the interests of government-recognized exporting enterprises. FIEO is not only concerned in the promotion of item exports, but also in the promotion of service exports.
The FIEO serves as a guide for all Indian businesspeople involved in the export-import sector. FIEO regulates all export-related organizations in India with the use of FIEO registration. As a result, it assists the Indian government in marketing India's exports. Businessmen can benefit from FIEO registration in a variety of ways, including global exposure, detailed guidance on key areas of global commerce, such as Foreign Trade Policy (FTP), and different exemptions for MSMEs.
The Foreign Trade Policy of the Government of India, as well as the Memorandum and Articles of Association of FIEO, control the organization's membership rules. According to the foreign trade policy, an exporter must obtain the Registration- cum –Membership Certificate (RCMC) in order to profit from the policy's benefits. The government has designated FIEO as an Export Promotion Council for registration purposes.
The Federation of Indian Export Organizations (FIEO) was founded in 1965 by the Ministry of Trade and Commerce and the Private Trade and Industry. The main goal of the Federation of Indian Export Organizations is to promote international trade, and it is the organization in charge of representing and aiding exporters and businesses in foreign markets. FIEO works hard to expand and improve the Indian market and exports. Not only does FIEO encourage item exports, but it also promotes service exports. This group also represents the interests of government-approved exporting companies.
Registration for FIEO Membership Eligibility
The RCMC can be obtained by registering with the FIEO as a Merchant Exporter, Manufacturer Exporter, Merchant-cum-Manufacturer Exporter, or Service Provider.
- If an export product isn't covered by an Export Promotion Council or a Commodity Board, the RCMC for that product must be obtained from FIEO.
- Multi-product exporters who are not registered with an Export Promotion Council and whose main line of business has yet to be determined must get RCMC from the Federation of Indian Exporters Organization (FIEO).
- Other than the 14 services included in the Handbook of Procedures, FIEO is the registered authority for service exporters.
Benefits of FIEO Membership
The Federation of Indian Export Organizations (FIEO) offers the following benefits to members:
- RCMC: The FIEO offers a Registration-cum-membership certificate (RCMC) to both status and non-status holders (under the Multiple Product Category), which they can utilize to earn benefits under the Foreign Trade Policy.
- MAI Grant: FIEO awards Market Access Initiative Scheme grants to eligible members who participate in international exhibits, trade fairs, and delegations, as well as providing subsidized booths at international exhibitions. In a given year, FIEO exhibits in approximately 50 well-known exhibitions across the world.
- Hosting on the FIEO website: FIEO offers its members the free service of submitting product images to the organization's official website. Members of FIEO can also create a searchable profile on the FIEO website.
- FIEO Search Engine: The FIEO website has a search engine that allows buyers to look for exporters from India who deal in a variety of items. Only FIEO members' names are published, and buyers have the option of directly contacting member exporters.
The FIEO search engine is also available on the websites of numerous Indian missions. In the future, the coverage will expand even more.
- FIEO CO: The council provides members with Certificates of Origin and Visa Recommendation Letters to help them travel internationally.
FIEO Membership Registration Documents
To receive the FIEO Membership Registration, the following documents must be submitted with the application form:
- A self-certified copy of the relevant licencing authority's Import Export (IE) Code Number.
- A check, pay order, or demand draught payable to Federation of Indian Export Organizations for the payment of the Annual Membership Subscription.
- Letter of Authority on the organization's letterhead.
- Copy of the SSI Registration Certificate/Industrial Licence/IEM that has been self-certified.
- One Star Export Houses, Two Star Export Houses, Four Star Export Houses, Three Star Export Houses, and Five Star Export Houses Certificates that have been self-certified.
The Federation of Indian Export Organizations (FIEO) has the following export promotion activities:
- FIEO publishes a weekly e-bulletin to keep traders informed about worldwide trends influencing international trade as well as information about the country's foreign commerce.
- It is a knowledge platform covering MFN Tariffs, Preferential Tariffs, SPS/TBT, and Rules of Origin of 65 countries, import statistics of 87 countries, and India's contribution to imports. It is available for free online on the Indian Trade Portal.
- On the FIEO website, the council provides two more chat services to answer questions about Corporate Legal Affairs, Arbitration, International Agreements, Technology Transfer, Patents, Trade Marks, Brand Management, Copyright, and other relevant topics, as well as quality standards.
- On the FIEO website, you can find press clippings on international trade concerns.
- Spot rates, Forward rates, Forward Calculator, FOREX Matrix, Pivot Points, LIBOR Rate, Historical Data, Currency Source, and Chart are among the FOREX Services offered by FIEO.
What Programs and Activities Does FIEO Conduct?
FIEO serves as a liaison for the international trading community,
- Addressing exporters' problems by referring them to the appropriate authorities.
- Provides an opportunity for exporters to meet with fieo experts to discuss issues in international trade and seek clarification on policy matters.
- You may find current trade policies and information on global trade promotion groups on the FIEO website.
- The FIEO hosts house meetings with the highest levels of government to discuss trade issues.
Who can get RCMC from FIEO?
- RCMC can be obtained from FIEO by any Status Holder.
- An exporter whose primary business is not covered by an Export Promotion Council or a Commodity Board.
- A multi-product exporter with an undetermined main line of business.
- No. 22 of Appendix 2 of the Handbook of Procedures does not apply to service providers.
Benefits of FIEO Registration
The benefits of FIEO Registration are as follows-
The FIEO registration provides exporters with suitable worldwide exposure guidance.
Guidance through an online chat room
Exporters who are FIEO registration holders have access to relevant guidance on matters such as FTP and company regulations via online chat.
Free Online Business
Free Online Business Portals such as e-bay and Amazon provide FIEO Members the opportunity to run free online storefronts for six months and three months, respectively.
Subsidy on Flight Travel
FIEO registration allows exporters to receive a 10% discount on all local and international air tickets.
Credit Ratings that are Simple and Affordable
CRISIL, one of the most well-known credit rating agencies, offers FIEO exporters a 10% discount on credibility analysis services.
Required Documents for FIEO Registration
Exporters who receive RCMC can apply for membership in EPC by submitting an application in the way indicated in the appendix registry.
The following documents must be submitted in order to join the organization.
- Application for Registration –cum- Membership, including details about the business line.
- A copy of the Importer and Exporter Code (IEC) number that has been self-attested.
- Bank The applicant's statement.
- Where the applicant is in the manufacturing business, an SSI/IEM certificate is required.
- Declaration with reference to previous fiscal year's exports and imports.
- A copy of the Memorandum and Articles of Association in the case of corporations, and a copy of the partnership deed in the case of partnership firms.
Certificate of Registration-Cum-Membership
According to the Foreign Trade Policy, an exporter must get a Registration-cum-Membership Certificate (RCMC) in order to benefit from the Policy's various benefits. The government considers FIEO to be an Export Promotion Council for enrollment reasons.
RCMC/FIEO Registration Validity
The RCMC will be considered valid beginning on April 1st of the licencing year and will be valid for five years.
Registration with the RCMC through the Export Promotional Council
There are a total of 26 Export Promotion Councils and 9 commodity boards in India. The EPC and the Commodities Board are in charge of issuing RCMC. They have been given permission by the central government to issue RCMC to exporters. Every EPC and commodities board in India categorizes itself according to the sort of items it sells.
Implications of a Change in the RCMC Holder's Business Structure
- If an exporter's possession, constitution, name, or address changes, the RCMC holder must notify the enrolling authority within one month of the change. Deferrals made on the basis of merit are acknowledged by enlisting authority.
- The exporter submits quarterly returns/subtleties of various product fares to the enrolling authority. In any event, status holders are required to send quarterly returns to FIEO in the format specified by FIEO.
Registration Process for FIEO Registration
The FIEO registration procedure is as follows:
- In order to obtain an RCMC, an exporter must declare his major line of business in the application to the Export Promotion Council identifying that line of business.
- If no Export Promotion Council/Commodity Board, etc. has secured the fare item, RCMC in that regard must be obtained from FIEO.
- If a multi-item exporter is not registered with any EPC and the primary line of business is not yet established, the exporter must obtain an RCMC from the Federation of Indian Exporters Organization (FIEO).
After a reasonable opportunity to defend itself, the Export Promotion Council may de-register the Exporter for a specified period of time for breaking the requirements of registration.
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Frequently Asked Questions
The Export Promotional Council or commodity board of India issues the RCMC membership certificate. The RCMC has a 5-year validity period.
The Exporter who is a registered member of FIEO receives the following benefits:
- On local and international flight bookings, there is a flat 10% discount.
- Even a Visa Recommendation letter is sent to the exporter as a complimentary basis for travelling to different nations on a business invitation.
The credibility analysis service is discounted by 10% for all FIEO registered exporters. This pushes exporters to be competent and builds their credibility over time.