Federation of Indian Export Organizations is governed by export promotion councils, commodity boards, and export development authorities. In addition, FIEO facilitates relations between the Indian international trade community and the state and federal governments. FIEO also serves over 1 lakh exporters in the goods and services sectors directly and indirectly.
Why Should You Get Involved with the FIEO?
Getting involved with the Federation of Indian Export Organization has several benefits. The following are some of them:
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The FIEO helps companies earn trade concessions under the foreign trade policy.
Taking part in the Indian Export Organisation Federation enables companies to gain trade concessions under the Foreign Trade Policy. A company that is a member of FIEO can qualify for foreign trade concessions.
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MAI grants are provided by the Federation of the Indian Export Organisation.
By becoming a member of the Federation of Indian Exports, the company becomes eligible for MAI grants. Additionally, booths are provided at subsidised rates. Furthermore, the companies are allowed to participate in at least 50 renowned exhibitions.
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The official website of FIEO allows members to post pictures.
By becoming a member of FIEO, companies can upload their images to their official websites. Additionally, companies can post profiles on FIEO’s website.
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DGFT, excise, and customs authorities can discuss issues of relevance to trade on an open platform.
A majority of trading companies face trading problems and have to deal with higher authorities such as excise, customs, and the DGFT. Moreover, they need a platform for discussing similar issues with other companies. The Federation of Indian Export Organisations opens up a platform to discuss such issues automatically when you become a member.
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FIEO members have access to origin and visa recommendations.
Certificates of origin and visa recommendations are required by companies for overseas travel. In addition, the company can only plan for their overseas trip after obtaining the same. It is easy to get origin and visa recommendations if the company is a member of FIEO.
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FIEO members have access to online chat facilities.
Members of the FIEO can access online chat facilities. Furthermore, they can discuss international trade issues and policy clarifications. The personnel in charge don’t need to wait for them. Instead, you can use online chat facilities.
These are the perks of becoming a member of the Federation of Indian Export Organizations.
What are the steps to obtain a FIEO Registration Cum Membership Certificate?
The FIEO registration cum membership certificate is key to obtaining benefits under foreign trade policies and the FIEO services. What is the process for obtaining the certificate? Let’s learn more in detail:
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Apply on the DGFT’s official website.
First, the company must visit the DGFT’s official website and apply.
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Application fee and requisite documents must be provided.
Second, the company must submit all the required documents, including a self-attested copy of an IEC number issued by the DGFT, a check/DD/PO towards the annual FIEO membership fee subscription, a letter of authority, a certified copy of the SSI registration certificate, the GST number, the certified copy of the star house, and proof of the export turnover.
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FIEO membership subscription fees are determined by the company’s category.
Each category of company has its own subscription fee. For instance, Your company must pay 6,250 INR if it belongs to the service provider category. In addition, if the company falls under the multi-product category, then the amount will be 7,000 INR. Additionally, multi-product group category companies have to pay 6250 INR. Individual exporters will be required to pay 6,250 INR. To determine which category your company belongs to and to pay the subscription fee accordingly.
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Provide key information about the management executives as well as other documents.
It is necessary for the company to provide details about its management executives and other documents. There will be information about the company’s directors and shareholders, if any.
The Following are the ways to obtain the registration cum membership certificate from FIEO.
Can anyone obtain a RMC from FIEO?
A company must meet certain requirements to obtain a FIEO registration Cum membership certificate. These are the eligibility criteria:
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Companies should be merchants or exporters.
An applicant must ensure that the business executes export and import activities. Additionally, the exporter must guarantee that they have applied for an IEC with the relevant authority.
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The local line of business should be declared.
Merchants and exporters must seek approval from their local lines of business before making a declaration. As an example, if your company is affiliated with a beverage company. Obtain the approval or declaration from the beverage corporation board of India. Then you will be able to obtain RMC from FIEO.
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Your application should be approved by the FIEO board.
It is the responsibility of the merchandisers or exporters to ensure that the federation approves the application for the RMC of Indian export organizations. In addition, the FIEO should approve your company.
Therefore, these companies can obtain RMC from FIEO.
Conclusion
It is easy to become a member of the Federation of Indian Export Organisations. The company must obtain a membership certificate from FIEO before it can register and become a member. Furthermore, they should be aware of the benefits of FIEO membership as well as the eligibility requirements. Last but not least, make sure the company meets all the criteria mentioned above. Therefore, becoming a member of FIEO and getting involved with the Federation of Indian Export Organizations provides a platform for international trading communities and state governments.