Authorised Economic Operator scheme- inclusion of the Gems & Jewellery Sector

The Authorized Economic Operator (AEO) Programme, launched as a pilot project in the year 2011 by the Central Board of Indirect Taxes and Customs (CBIC), aims to enhance security and efficiency in cross-border trade. The AEO Program requires an application by a business and requires processes and compliance with supply chain standards. The AEO status offers various benefits such as streamlined customs clearance, expedited cargo processing, deferred duty payments, direct port delivery/entry, and privileges of mutual recognition agreements (MRAs). 

Further, the Gems and Jewellery (G&J) sector in India is a crucial pillar of the country's economy and a major export oriented sector. Since G&J is a highly competitive and ever-evolving sector, there is a need for streamlined Customs and Export procedures.

The G & J sector in India faces several challenges, such as international competition, regulatory compliance, and supply chain security. In this context, AEO certification shall provide India’s major exporters with a competitive edge in the global marketplace.

Please find attached herewith our Newsflash on – “Authorised Economic Operator Scheme – Inclusion of the Gems & Jewellery Sector” wherein we have analysed the AEO Scheme and its implications for the Gems & Jewellery Sector in India. 

Hope you would find the same useful.