The Union Ministry of Finance has assigned the Authorised Economic Operator (AEO) status to the gems and jewellery sector.
- The AEO programme was introduced as a pilot project for export-oriented industries to promote ease of doing business.
- The AEO programme was instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters.
Authorised Economic Operator (AEO)
- AEO is a programme under the aegis of the World Customs Organization (WCO) SAFE Framework of Standards to secure and facilitate Global Trade.
- The programme aims to enhance international supply chain security and facilitate movement of legitimate goods.
- AEO encompasses various players in the International supply chain. Under this programme an entity engaged in international trade is approved by Customs as compliant with supply chain security standards and granted AEO status & certain benefits.
- India’s AEO Programme is in sync with the commitments made under Article 7.7 of WTO TFA.
- AEO is a voluntary compliance programme. It enables Indian Customs to enhance and streamline cargo security through close cooperation with the principle stakeholders of the international supply chain viz. importers, exporters, logistics providers, custodians or terminal operators, custom brokers and warehouse operators.
