Gems and Jewelry Sector, Gems and Jewelry Export Promotion Council (GJEPC) has been extended to the status of Authorized Economic Operator (AEO) by the Centre.
In 2011, the AEO program was introduced as a pilot project by the Customs Department as part of a comprehensive framework for ease of doing business.
This has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters.
Under the secure framework of standards of the World Customs Organization (WCO), AEO is a program to secure and facilitate global trade.
It aims to enhance international supply chain security and facilitate the movement of legitimate goods.
Under this program, an entity engaged in international trade is approved by Customs as conforming to supply chain security standards, and given AEO status and certain benefits.
India’s AEO program is in line with the commitments made under Article 7.7 of the WTO TFA.
Among the 20 companies that applied for AEO status, diamond, and diamond jewellery manufacturer Asian Star was granted AEO status, making it the first company in the Indian gems and jewellery industry to receive the certificate.
