The Federation of Indian Export Organisations, which is also termed FIEO, is a Non-Profit unit representing the Indian entrepreneur’s essence of enterprise within the global market.
The Government of India established FIEO to promote and supervise India’s exports. The entity has its main office in New Delhi and represents the in for the entrepreneurial soul and essence of Indian entrepreneurs worldwide. This organisation works very actively to bring to notice and also resolve the challenges or issues that Indian exporters face. Vakilsearch can help you with the FIEO registration and renew FIEO. Timely FIEO membership renewal ensures uninterrupted participation in international trade events and promotions. They have a team of legal professionals that can give entire help to acquire the RCM certificate!
Services Provided by FIEO
The FIEO provides the following services:
- Proposes a weekly e-bulletin update traders with the global developments affecting the country’s foreign and international trade
- The Indian Trade Portal provides a free service online that acts as a knowledge platform for Preferential Tariffs, MFN Tariffs, Rules of Origin of 65 countries, SPS/TBT, the import statistics of 87 countries, and the contribution of India in the imports
- The council has two chat services available on the FIEO website to respond to and resolve queries related to corporate legal affairs, International agreements, arbitration, transfer, patents, technology, trademarks, copyright, brand management, and topics associated with clarifying the queries on quality standards
- Press clippings on challenges related to international trade are available on the website. Of FIEO
- FIEO had begun FOREX services that include spot rates, forward calculator, forward rates, FOREX matrix, LIBOR rate, pivot points, currency source, historical data, and charts.
Registration and Membership with FIEO
The foreign trade policy states that an exporter must get the Registration and Membership Certificate (RCMC) to avail of the advantages of the policy. Indian Government recognizes FIEO as an Export Promotion council.
Following are the 2 types of membership for registration with FIEO:
Ordinary Membership: This is the basic membership, and this kind of membership is for organisations that have just ventured into the import and export business.
Associate Membership: This type of membership is the associate membership for organisations that have been in the import and export business for quite some time. The associate membership costs more and is also liable to GST.
Vakilsearch is the best online professional services platform for corporate bodies, lawyers and professionals in India. Do reach out to them for any legal services related to FIEO.
Benefits of FIEO Registration
Global Exposure: With FIEO registration, exporters can receive proper guidance with respect to international exposure.
Guidance Via Online Chat: Exporter can avail the required guidance via online chat with respect to issues such as corporate law, FTP &aamp, and so on.
Free Online Business: Portals such as eBay offers the convenience of running free online stores to FIEO Members for 6 months, and Amazon gives the same offer for 3 months.
Subsidy On Air Travel: FIEO registration allows exporters to avail of a 10% discount on all domestic and international air tickets.
Easy and affordable credit rating: CRISIL, which is one of the most prominent credit rating agencies, offers a discount of 10% discount on credibility analysis services.
Documents Required for FIEO Membership Registration
The following documents are required for FIEO Registration:
- Self-certified copy of the IE or Import Export Code number that has been sanctioned
- Copy of the annual FIEO Membership fee which has been paid
- Company’s letterhead with letter of authority printed
- Self-certified copy of the SSI registration certificate, IEM, and industrial license
- Director, owner’s, and partner’s government recognised ID
- Self-certified copies of the certificates of export houses
- GSTIN
- Statement of foreign exchange revenues for the past three fiscal years
- Export revenue by nation and commodity of the past three fiscal years
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Membership Fees for FIEO
An exporter who registers with FIEO can benefit from both the Foreign Trade Policy and the FIEO’s services, credentials, facilities, and global reach. An exporter can sign up as a member of FIEO within the Individual Exporter Category if they do not wish to obtain the claim benefits and RCMC under the Foreign Trade Policy.
Following are the details on the membership:
| Category | Fee |
| Individual Exporters | ₹6,250/- |
| Multi-Products Groups | ₹6,250/- |
| Multi-Product Groups (Premier)* | ₹7,000/- |
| Service Provider | ₹6,250/- |
| FTZ units/EOU | ₹9,375/- |
| One Star Export Houses | ₹9,375/- |
| Two-Star Export Houses | ₹12,500/- |
| Four-Star Export Houses | ₹50,000/- |
| Five Star Export Houses | ₹93,750/- |
| State Export Organisations | ₹6,250/- |
Conclusion
Having a FIOE membership can get an Indian exporter a host of advantages. It functions with an aim to help Indian entrepreneurs achieve their business goals and attain international success. With help from FIEO registration, the FIEO controls all the export-related organisations within India. FIEO membership renewal confirms your commitment to expanding your business globally. In other words, you can say that FIEO partners with the Indian Government of India to promote India’s exports. Vakilsearch is an excellent legal team to help with your FIEO membership registration. Contact them now!
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