Published: 3rd May, 2024
Context
With the help of the efforts of Gem & Jewellery Export Promotion Council (GJEPC), the gem and jewellery sector has been granted Authorised Economic Operator (AEO) status by the Finance Ministry.
Understanding AEO Status:
- The AEO status is a prestigious designation conferred under the World Customs Organisation (WCO) SAFE Framework of Standards.
- Objective: to secure and expedite global trade operations.
- Introduction: as a pilot project by the Customs department in 2011.
- Alignment with International Commitments: India's AEO Programme aligns with the commitments outlined under Article 7.7 of the World Trade Organization's Trade Facilitation Agreement (TFA).
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Fact Box: India’s Gems and Jewellery Sector
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