What Are The Eligibility Requirements for RCMC Registration?

What Are The Eligibility Requirements for RCMC Registration?

Membership Options for RCMC Registration 

Under FIEO There are two membership options for RCMC Registration under FIEO:

  1. Ordinary Membership:The membership only includes the basic membership, as implied by its name.A company just starting out in the export and import industry would benefit from this kind of membership.
  2. Joining as an Associate:Companies that have been in the export and import industry for a considerable amount of time are eligible for associate membership.The fee plus a small GST rate determine the associate membership fees.

The Benefits of the RCMC Registration Policy for International Trade:

If an exporter registers with the RCMC, they can take advantage of some of the benefits offered by the country’s foreign trade policy.In addition, the exporter would be provided with a variety of informational updates regarding foreign trade policy once after paying the RCMC Registration Fees.

Activities for Promoting Exports:In India, export promotion is very important.In order to participate in the growth of various industries, it is essential to promote exports within the nation.Getting this registration would directly boost exports to other countries.The ability to secure export-related international expansion policies is one advantage of obtaining this registration.

The Atmanirbhar Bharat program, for instance, has been established by the government.Under this program, the government wants Indians to buy more products made in India.

These strategies can lead to self-sufficiency.Indian exports would also rise as a result of this plan.

  • Using a Variety of Methods:The exporting company can take advantage of a variety of FIEO programs by registering.Any unregistered businesses or organizations cannot do this.
  • Government observance:The rules and regulations of the government will be followed by any entity or company that obtains this registration.
  • News and updates from FIEO:Updates on India’s foreign trade policy and a variety of concessions from the FIEO would also be provided.Individual exporters can still register for the benefits of the FIEO even if they do not want the RCMC certificate.

Eligibility Requirements for RCMC Registration 

When applying for an RCMC certificate from the FIEO, the applicant must meet the following requirements:

Exporter or Merchandiser (Merchant):The applicant must first ensure that the company is engaged in exports and imports.One of the most essential requirements for starting an export business in India is this.In addition, the exporter must ensure that they have submitted the appropriate application for the Import Export Code (IEC).The Director General of Foreign Trade (DGFT) is in charge of the IEC.

Statement on the Main Line of Business:The exporter or merchant must declare the primary line of business.For instance, the Tea and Coffee Promotion Board must be consulted if the primary industry is coffee and tea.

The Board of Directors of the FIEO has approved:The applicant is responsible for ensuring that the appropriate board or FIEO grants consent.The applicant must submit an application for approval to the FIEO if there is no specific board for a particular product.The same requires approval from the FIEO.

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