Govt Exempts Export Consignments Up to Rs 3 Lakh from RCMC Requirement

New Delhi, Sep 16 (KNN) The government has exempted export consignments with a Free-on-Board (FOB) value of up to Rs 3 lakh from the requirement of Registration-cum-Membership Certificate (RCMC) or Certificate of Registration, wherever the certificate is otherwise required under the Foreign Trade Policy.

The Directorate General of Foreign Trade (DGFT) has amended Para 2.57 of the Foreign Trade Policy, 2023 to introduce the exemption for consignments valued up to Rs 3 lakh. Export consignments exceeding Rs 3 lakh will continue to require a valid RCMC or Certificate of Registration wherever applicable under the policy.

Data for the five-year period from 2021-22 to 2025-26 shows that low-value export consignments account for a substantial share of shipping bills but a small share of total merchandise export value. 

Consignments valued up to USD 3,000 accounted for 43 per cent of shipping bills during the period, while representing 0.86 per cent of India’s total merchandise export value.

Under the existing framework, exporters are required to obtain an RCMC or Certificate of Registration from the relevant Export Promotion Council or Commodity Board wherever prescribed under the Foreign Trade Policy. 

The requirement involves registration with the relevant body before undertaking exports where applicable.

The new exemption removes the RCMC or Certificate of Registration requirement for eligible export consignments up to Rs3 lakh. The exemption applies to exports through postal, courier and other emerging channels, including eligible low-value e-commerce shipments.

For consignments exceeding Rs 3 lakh, the existing requirement of obtaining an RCMC or Certificate of Registration will continue to apply wherever prescribed under the Foreign Trade Policy.

(KNN Bureau)