The Ministry of Commerce of the Government of India has created the Federation of Indian Export Organisations (FIEO) to promote Indian exports. A New Delhi-based council representing Indian entrepreneurs on the global market, the council represent the entrepreneurial spirit of Indians. We will examine the Federation of Indian Export Organizations (FIEO) in detail in this article.
Objective of FIEO
Its primary purpose is to assist members in expanding their business internationally and to take up problems and difficulties of exporters with the concerned agencies so that they can be resolved as early as possible.
Service of FIEO
The Federation of Indian Export Organisations (FIEO) is involved in the following export promotion activities:
- The FIEO’s weekly e-bulletin keeps traders informed about global developments impacting international trade and foreign trade-related information.
- A free service available through the Indian Trade Portal, it provides information on the MFN Tariffs, Preferential Tariffs, SPS/TBT, as well as India’s contribution to the imports of 87 countries.
- On the FIEO website, the council has two more chat services for clarifying queries regarding Corporate Legal Affairs, Arbitration, International Agreements, Technology Transfer, Patents, Trademarks, Brand Management, Copyright, and related topics, as well as quality standards.
- FIEO’s website contains press clippings about international trade.
- FOREX Services provided by FIEO include Spot Rates, Forward Rates, Forward Calculator, FOREX Matrix, Pivot Points, LIBOR Rate, Historical Data, Currency Source, and Charts.
FIEO Membership Registration
The FIEO’s membership registration rules are governed by the Indian Foreign Trade Policy and the Memorandum and Articles of Association. To be eligible for various benefits under the Foreign Trade Policy, exporters must obtain a Registration-cum-Membership Certificate (RCMC).
Eligibility for FIEO Membership Registration
In order to obtain the RCMC, a merchant exporter, manufacturer exporter, merchant-manufacturer exporter, or service provider can register with the FIEO.
- A RCMC should be obtained from FIEO for export products that are not covered by a Commodity Board or Export Promotion Council.
- A multi-product exporter without an Export Promotion Council registration but whose mainline of business is still pending must obtain RCMC from Federation of Indian Exporters Organization (FIEO).
- The FIEO registers Service exporters other than the 14 services listed in the Handbook of Procedures.
FIEO Membership Benefits
There are several advantages to joining the Federation of Indian Export Organizations (FIEO):
RCMC: Under the Foreign Trade Policy, FIEO issues Registration-cum-membership certificates (RCMCs) to status holders and non-status holders.
MAI Grant: FIEO provides grants for participating in exhibitions, trade fairs, and delegations abroad, as well as booths at subsidized costs to its members in overseas exhibitions as part of its Market Access Initiative Scheme. In a year, FIEO participates in around 50 well-known exhibitions worldwide.
B2B Meetings: FIEO organizes meetings for its members with foreign delegations occasionally.
Hosting on FIEO website: FIEO allows its members to upload product pictures for free on its official website. Members of FIEO can also host their profiles on the searchable FIEO website.
FIEO Search Engine: There is a search engine on the FIEO website where buyers can find exporters from India who deal in different products. Members of FIEO are displayed, and buyers can contact them directly.
There is also a FIEO search engine available on the websites of many Indian missions. In the future, the coverage will grow even more.
FIEO provides members with the possibility of discussing issues with various authorities such as excise, customs, DGFT, etc. To solve the problems of exporters, regular meetings are organized with decision-makers.
FIEO CO: Members of the council are issued Certificates of Origin by the council, as well as Visa Recommendation Letters by the council.
Discount for Membership Fee
FIEO members are entitled to a 10% discount when they pay their membership fee for five years in advance, and a 5% discount when they pay their membership fee for three years in advance. In the case of Status Holders, however, the status must remain in effect.
Fee for FOREX Services
For FIEO members and non-members, FOREX services are available at 10.30 am Monday through Friday (except Gazetted Holidays) for Rs. 3000/- and Rs. 4000/- per annum respectively.
Documents for FIEO Membership Registration
To obtain FIEO membership registration, the following documents must be enclosed with the application form:
- The Import Export (IE) Code Number issued by the licensing authority must be self-certified
- Please send a cheque/Pay Order/Demand Draft favoring Federation of Indian Export Organisations for the annual membership fee.
- A letter of authority on the organization’s letterhead
- The self-certified copy of the SSI Registration Certificate/Industrial Licence/IEM
- Self-certified copies of certificates for One Star Export Houses, Two Star Export Houses, Four Star Export Houses, Three Star Export Houses, and Five Star Export Houses
- A copy of the ID proof of the Director/Partner/Proprietor(s) (Adhaar/Driving License/Voter ID/Passport)
- Export turnover by country/commodity over the last three financial years
- Detailed statement of foreign exchange earnings for the past three financial years – For service providers
The applicant must follow the following procedures to become a registered member of FIEO and obtain RCMC from the council:
Exporters who wish to obtain an RCMC from FIEO must declare their main line of business on the application. The application format is as follows:
FIEO’s regional office can be reached at the following address after completing the application form and supporting documents:
- CEO and Director-General
- The Federation of Indian Export Organizations
- The Niryat Bhawan is located on Rao Tula Ram Marg
- The opposite. Research and Referral at Army Hospitals
- New Delhi – 110057
FIEO will send the RCMC to the address specified in the application form after verifying the details.