FIEO?

The Federation of Indian Export Organizations (FIEO) is an organization that promotes exports in India. It was established in 1965 by the Ministry of Trade & Commerce and private trade & industry.

FIEO represents Indian entrepreneurs involved in import-export businesses. It serves as a leading body for export promotion organizations across India and collaborates closely with the Government of India to boost the country's exports.

Being a member of FIEO offers significant advantages to exporters. These include opportunities for global exposure, expert guidance on important aspects of global trade such as the Foreign Trade Policy (FTP), and various benefits and concessions specifically designed for Micro, Small, and Medium Enterprises (MSMEs).

In essence, FIEO membership provides exporters with valuable resources and support to expand their international trade activities and navigate the complexities of global markets.

Advantage of FIEO Registration

·  Global Exposure: FIEO registration offers exporters guidance to expand internationally.

·  Online Chat Support: Members get online chat support for issues like FTP and corporate laws.

·  Free Online Stores: FIEO members can run free online stores on platforms like eBay for 6 months and Amazon for 3 months.

·  Air Travel Subsidy: Exporters enjoy a 10% discount on domestic and international air tickets.

·  Credit Rating Discount: FIEO members receive a 10% discount on credit rating services from CRISIL.

·  Government Compliance: Registration ensures compliance with government rules and regulations.

·  Trade Policy Updates: FIEO provides updates on India's foreign trade policy along with concessions.

·  Individual Exporter Option: Individuals can register as exporters with FIEO without needing an RCMC certificate, accessing benefits directly.

Suitability Criteria For RCMC Registration in FIEO

·  Involvement in Imports and Exports: The business activities must include both importing and exporting.

·  IEC from DGFT: Applicants must possess an Import Export Code (IEC) issued by the DGFT (Director General of Foreign Trade).

·  GSTIN Number: Applicants must have a valid GST Identification Number (GSTIN).

·  Declaration of Main Business: Applicants need to declare their primary line of business. If dealing with products under specific export promotion boards (like the Coffee and Tea Promotion Board), consent from that board is required.

Services of FIEO?

·  Weekly Updates: FIEO sends a weekly e-bulletin to inform traders about global developments affecting foreign and international trade.

·  Indian Trade Portal: Provides free online access to information on MFN Tariffs, Preferential Tariffs, SPS/TBT regulations, Rules of Origin for 65 countries, import statistics of 87 countries, and India's import contributions.

·  Chat Services: FIEO's website offers two chat services to answer questions on Corporate Legal Affairs, Arbitration, International Agreements, Technology Transfer, Patents, Trade Marks, Brand Management, Copyrights, and related topics.

·  Press Clippings: Access press clippings on international trade issues directly from FIEO's website.

·  FOREX Services: Offers various FOREX services including Spot rates, Forward rates, Forward Calculator, FOREX Matrix, Pivot Points, LIBOR Rate, Historical Data, Currency Source, and Charts.

·  Seminars and Conferences: Conducts seminars and conferences to foster growth for exporters.

 Membership types offered by FIEO For RCMC Registration

·  Ordinary Membership: This is the basic FIEO membership for newly established import and export businesses. It provides essential benefits and services tailored for businesses starting out in international trade.

·  Associate Membership: Designed for established import and export businesses, Associate Membership offers additional benefits and services. It includes higher charges compared to Ordinary Membership, along with nominal GST rates.

Required Documents for FIEO Registration

·  Importer and Exporter Code (IEC) Certificate

·  GSTIN Certificate

·  Letter of Authority: On the firm's letterhead, attested by a Chartered Accountant (CA).

·  SSI/IEM Certificate: Required if engaged in manufacturing.

·  Declaration of Previous Year's Activities: Summary of export and import activities conducted in the previous Financial Year.

·  Export House Certificate: Copy of applicable Export House Certificate (One Star to Five Star), if obtained.

·  Financial Statements: For exporters, country-wise or commodity-wise export turnover for the past 3 financial years. For service providers, statement of foreign exchange earnings over the same period.

FIEO Export Performance Analysis

FIEO requires all businesses with RCMC membership to submit a quarterly export-import performance report by the 15th day of the month following each quarter. Here's how to report it simply:

EXPORTS

-  Description : Details of exported items as per Shipping Bill

-  ITC Harmonised Code Number : Classification code for each item

-  Country : Name of the country each item was exported to

-  FOB Value Rs. Lakhs : Value in Indian Rupees (Rs. Lakhs) per item

-  FOB Value (foreign currency) : Value in foreign currency per item

-  SSI : Small Scale Industry exports value

-  Non-SSI : Non-Small Scale Industry exports value

-  Total : Total export value per item in both currencies

-  Foreign Currency Total : Total export value in foreign currency

IMPORTS

-  Description : Details of imported items

-  ITC Harmonised Code Number : Classification code for each item

-  Country : Name of the country each item was imported from

-  CIF in Rs. Lakhs : Total Cost, Insurance, and Freight value in Indian Rupees (Rs. Lakhs) per item

 

Grand Total for Exports and Imports- should be clearly stated at the end of each section. Even if there are no exports or imports during a quarter, FIEO members must still submit a NIL return to comply with reporting requirements.