New Delhi. The Central Government has relaxed the RCMC requirement for export goods worth up to Rs 3 lakh. RCMC relaxations will reduce entry barriers for micro, small and medium enterprises and first-time exporters. DGFT has issued a notification related to this.
The Center has provided minimum exemption from the requirement of Registration-cum-Membership Certificate (RCMC) or Registration Certificate for small merchandise exports worth up to Rs 3 lakh, the Commerce and Industry Ministry said in a statement on Wednesday. The ministry said that
The measure aims to reduce the compliance burden for new and small exporters and facilitate exports through post, courier and other emerging channels.
In this regard, the Directorate General of Foreign Trade (DGFT) has amended Article 2.57 of the Foreign Trade Policy, 2023 to provide that RCMC or registration certificate will not be required for export consignments with free-on-board (FOB) value up to Rs 3 lakh, where such certificate is required under the Foreign Trade Policy.
However, for export consignments exceeding Rs 3 lakh, the requirement of valid RCMC or registration certificate, wherever applicable, will continue. It is noteworthy that this exemption will also facilitate e-commerce and other emerging export channels.
This is expected to support low-value exports through post, courier and other emerging channels that are increasingly enabling businesses to reach international customers. This measure will help emerging exporters gradually integrate into global markets.