What is the use of registering with FIEO as an exporter?

FIEO is the abbreviation for the Federation of Indian Export Organization. Ministry of trade and commerce with Private Trade and Industry jointly introduced FIEO in the year 1965. The primary functioning of the Organization is to promote international business and is accountable for representing and supporting entrepreneurs and exporters in a foreign market. FIEO registration will help the businessmen to expose multiple benefits such as global exposure, thorough guidance on critical areas of global trade like Foreign Trade Policy, and various enterprises of MSMEs. FIEO is working enthusiastically to extend and improve India's market as well as exports.

The Organization signifies the interest of Government Recognized exporting firms like the Export House, Star Export House, or Trading House. FIEO does not only help in promoting the export of merchandise but also involved in supporting the export of services.

The FIEO works as an indicator for all the Indian businessmen who are indulged in the import-export market. FIEO regulates all export-related establishments in India. Therefore, it functions as a partner to the Government of India in promoting India's export business.

How is the FIEO Registration useful for Exporter?

The benefit utilized by the Exporter who is a registered member of FIEO is as follows-

• Flat 10% discount on domestic as well as international flights option;
• Exporter receives a Visa Recommendation letter, for the complimentary basis for traveling to different countries on the business invitation.

How to obtain membership of FIEO?

The membership rules prescribed by FIEO are ruled by the Government of India's Foreign Trade Policy and Articles of Association (AoA) and Memorandum of Association (MoA) of the Organization. According to Foreign Trade Policy, an exporter needs to get the Registration cum-Membership Certificate (RCMC) for the benefits offered to the Exporter under the Policy. For Registration, FIEO has been recognized as the Export Promotion council by the Government of India.

Benefits of FIEO Registration

• Global Exposure

It gives the exporters proper guidance related to international exposure.

• Guidance Via Online Chat

The registration holder exporter has admission to essential advice through online chat on issues like FTP or corporate laws etc.

• Free Online Business

Portals like e-bay offer convenience to run free online stores to FIEO Members for six months & Amazon delivers the same offer for three months.

• Subsidy on Air Travel

FIEO registration helps the exporters to avail of the benefit of a 10% discount on all domestic as well as international air travels.

• Easy and Affordable Credit Rating

The most prominent credit rating agency CRISIL allows a total of  10% discount on credibility examination services for the exporters.

What are the documents required to obtain FIEO Registration?

The following documents are required to be submitted-

• Application for Registration-cum-Membership Certificate, providing the business-related information.
• Copy of Self-attested Importer and Exporter Code (IEC).
• Bank Statement of the applicant.
• SSI/IEM certificate, if the applicant is in the line of manufacturing business.
• Declaration concerning the export and import affected during the previous financial year.

A copy of Article of Association (AoA) and Memorandumof Association (MoA) in case of companies as an applicant and case of partnership firms as an applicant, then partnership deed needs to be submitted.

What is the registration procedure for FIEO Registration?

• An exporter craving to acquire a Registration-Cum-Membership Certificate needs to declare his primary line of business in the application sent to the Export Promotion Council, identifying with the range of business activity.
• In case if the fare item is not secured by any Export Promotion Council or any Commodity Board, RCMC in regard thereof is to be acquired from FIEO.
• If there should be an occurrence of multi-item exporters, not enlisted with any EPC, where the main activities of business is yet to be determined, the Exporter needs to acquire RCMC from the Federation of Indian Exporters Organization (FIEO).

What are the Penalties of not acquiring RCMC?

The Export Promotion Council may cancel the Registration of the Exporter for a specific period for violating the conditions of Registration after proving a reasonable opportunity to defend themselves.

Conclusion

FIEO is the abbreviation for the Federation of Indian Export Organization. Ministry of trade and commerce with Private Trade and Industry jointly introduced FIEO in the year 1965. The FIEO works as an indicator for all the Indian businessmen who are indulged in the import-export market. FIEO regulates all export-related establishments in India. Therefore, it functions as a partner to the Government of India in promoting India's export business. FIEO registration will help the businessmen to expose multiple benefits such as global exposure, thorough guidance on critical areas of global trade.