RCMC stands for Registration-Cum-Membership Certificate. It is a certificate issued by Export Promotion Councils (EPCs) or Commodity Boards in India, under the Ministry of Commerce and Industry. The RCMC is an important document for Indian exporters, serving as proof of registration with the appropriate export promotion body.
Key Points About RCMC:
- Purpose: The RCMC certifies that an exporter is a registered member of a specific export promotion council, commodity board, or other competent authority in India. This registration helps the government and councils keep track of exporters and their trade activities.
- Requirement for Export Incentives: Obtaining an RCMC is mandatory for exporters to avail themselves of various benefits and incentives provided under India's Foreign Trade Policy (FTP), such as duty drawbacks, export promotion capital goods (EPCG) schemes, merchandise exports from India scheme (MEIS), and service exports from India scheme (SEIS).
- Validity: An RCMC is generally valid for five years. Exporters need to renew it upon expiration to continue receiving benefits.
- Issuing Bodies: The RCMC is issued by various export promotion councils, commodity boards, and authorities like the Federation of Indian Export Organisations (FIEO), Agricultural and Processed Food Products Export Development Authority (APEDA), Marine Products Export Development Authority (MPEDA), and others, depending on the product category or service.
- Process: To obtain an RCMC, exporters must apply to the relevant export promotion council, providing details about their business, products, or services they intend to export, and other relevant documents.
Obtaining an RCMC is a crucial step for any Indian exporter looking to engage in international trade, ensuring compliance with the country's export regulations and access to various government benefits.