New Delhi: The government has removed the requirement of Registration-cum-Membership Certificate (RCMC) or Certificate of Registration for export consignments with a Free-on-Board (FOB) value of up to Rs 3 lakh, in a move aimed at reducing compliance hurdles for MSMEs, first-time exporters and small businesses, according to a release by the Ministry of Commerce and Industry.
The Directorate General of Foreign Trade (DGFT) has amended Para 2.57 of the Foreign Trade Policy, 2023, to provide the exemption wherever an RCMC or Certificate of Registration is otherwise required under the policy. Consignments exceeding Rs 3 lakh will continue to require the certificate wherever applicable.
