A federation of Indian export organisations is the apex body that comes under commodity boards, export promotion councils, & export development authorities in the country. What are the perks of getting involved with the Federation of Indian Export Organisation? Learn everything in this blog.
The Federation of Indian Export organisations is the body that is governed by the export promotion councils, commodity boards, and export development authorities. Further, FIEO provides a platform for facilitating the interface between the international trading community of India and central and state governments. Moreover, FIEO Membership Benefits, directly and indirectly, serves the interests of over 1 lakh exporters from all the goods and services sectors.
FIEO Membership Benefits
Getting involved with the Federation of Indian Export Organisation has various perks. They are as follows:
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FIEO helps companies gain Trade concessions under the foreign trade policy.
Membership in the Indian Export Organisation federation helps companies gain trade concessions under the foreign trade policy. If your company is a member of FIEO, they can get trade concessions under the foreign trade policies.
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Federation of the Indian export organisation provides MAI grants.
When the company gets membership from the federation of Indian export, the company can avail of MAI grants. Further, it also provides booths at subsidised costs. It further allows the companies to participate in at least 50 renowned exhibitions.
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FIEO members have the opportunity to post pictures on its official website.
Once you become a member of the FIEO, the companies have the opportunity to upload the images on their official website. Further, the companies can also post their profile on the FIEO website.
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Open platform to discuss issues related to trade and authorities like excise, customs, and DGFT.
Most trading companies face trading problems and have to handle higher authorities like excise, customs, and DGFT. Moreover, they need a platform to discuss the same with other companies similar to theirs. By becoming a Federation of Indian export organisations member, the platform to discuss such issues opens up automatically.
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The FIEO members can avail the origin and visa recommendations.
Companies require origin and visa recommendation certificates to facilitate their overseas travel. Further, only by obtaining the same can the company plan for their overseas trip. If the company is an FIEO member, they can easily get the origin and visa recommendations.
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Online chat facilities are available for FIEO members.
How to Obtain the Registration Cum Membership Certificate from FIEO?
The FIEO registration cum membership certificate is key to avail benefits under foreign trade policies and the FIEO services. How to obtain the certificate? Let’s learn in detail:
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Visit the DGFT official website and apply.
As a first step, the company has to visit the official website of DGFT and file for the application.
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Provide the requisite document along with the application fee.
Secondly, the company should submit all the required documents like a self-attested copy of the IEC number issued by the DGFT, and cheque/ DD/ PO towards the FIEO annual membership subscription, a letter of authority, a self-attested copy of the SSI registration certificate, GST number, self-attested copy of star house certificate if needed, ID proof, and export turnover.
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Choose the FIEO annual membership subscription fee as per the category the company belongs to.
There are separate subscription fees for different categories of companies. For instance, if your company belongs to the service provider category, it must pay 6,250 INR. Further, if the company comes under the multi-product group, then the amount will be 7,000 INR. Moreover, the multi-product group category companies have to pay 6250 INR. Individual exporters will have to pay 6,250 INR. to know which category your company belongs to and pay the subscription fee accordingly.
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Provide key information about the management executives along with other documents.
The company has to provide details about the management executives and other documents. The information will include the details of the company’s directors and its shareholders if any.
Hence, these are the ways to obtain the registration cum membership certificate from FIEO.
Who Can Obtain the RMC from FIEO?
For obtaining the registration cum membership certificate from FIEO, the company has to be eligible for the same. The eligibility criteria are:
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The company should be a merchandiser or exporter.
The applicant must ensure that the business executes the means of export and import. Further, the exporter has to guarantee that they have made the application for IEC with the concerned authority.
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Declare the local line of business.
The merchant or exporter has to ensure that they get the declaration or approval from their local line of business. For instance, if your business is associated with a beverage corporation. Make sure to get the declaration or approval from the beverage corporation board of India. Only then can you obtain RMC from FIEO.
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The FIEO board should approve your application.
Merchandisers or exporters should ensure that the federation approves the application for the RMC of Indian export organisations. Moreover, the FIEO should give their sanction approving your company.
Thus, these are the categories of companies that can obtain RMC from FIEO.
Conclusion
Overall, getting involved in the federation of Indian export organisations is easy. Provided that the company obtains the registration cum membership certificate from FIEO. Moreover, they should also know the perks of FIEO Membership Benefits and the eligibility criteria. Lastly, ensure that the company passes all the eligibility mentioned above criteria. So obtaining membership in FIEO and getting involved with the federation of Indian export organisations opens the platforms for international trading communities and the state/central government.
It also helps your company to interact with other similar companies regarding the trading issues and handling the higher authorities like excise, customs, and DGFT. Most of all, the company should get approval from their local line of business and, lastly, the sanction from the Federation of Indian export organisations. So next time you are planning to get involved with the federation of Indian export organisations, follow the registration process mentioned above and know the category of companies you belong to. This will help you easily access the FIEO without any hurdles. Further, your company can gain exposure to international trade. Also, you can get help from Vakilsearch regarding this.
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