FIEO seeks immediate release of export benefits from government agencies to make the shipments more profitable. The benefits include MEIS (Merchandise Exports from India Scheme), GST, and RoDTEP (Remission of Duties and Tax on Exports Products). FIEO stands for The Federation of Indian Export Organizations that comes under the Ministry of Commerce and it was set up to promote trade. In this article, we will discuss FIEO Seeks Immediate Release Of Export Benefits.
The organization requested the shipping companies to increase the freight price rationally as all the exporters are facing the same situation and a sudden rise will lead to a massive loss. Moreover, the president of FIEO S.K.Saraf urged banks to increase the liquidity and it is possible when banks will offer the loans and other services to the exporters.
FIEO stand on the release of government benefits
The president of FIEO also stated that inflation in the domestic market is quite high and due to the same, the price of raw materials increased. As a result, the exporters are facing many challenges and the prime one is the re-evaluation of the product price.
To reach the target of $400 billion till 2021-22, FIEO needs government assistance and the export sector must be kept in the priority.
Engineering Export Promotion Council Statement
EEPC also released a statement and said that the value-added steel products are becoming inferior in the international market. The prime reason for steel becoming uncompetitive is the increase in the price of raw materials. So, the government must take some measures to slash the price of raw steel and few measures are; the inclusion of tariff and non-tariff measures in the policy.
It has been observed that there is a growth in the export of primary steel whereas, the value-added steel products declined to 15-35%.
There are certain rules in the FIEO Registration as it is monitored by the Government of India’s Foreign Trade Policy. The exporters who need to get RCMC (Registration-Cum-Membership Certificate) will have to go through the registration process.
If you run a business and are willing to get an RCMC certificate to avail of the benefits offered by the Government of India through various schemes, then you can apply here. FIEO Registration process is simple and our business advisors will guide you and will check all the documents necessary for the registration.
Moreover, if you need any guidance as regards the FIEO Registration please feel free to contact our business advisors at 8881-069-069.
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