Centre Accords ‘AEO’ Status to Gem & Jewellery Sector
Centre Accords ‘AEO’ Status to Gem & Jewellery Sector : UPSC Mains General Studies Paper 3: Current Affairs in Economy Watch
On 26th April, 2024, the Centre assigned the Authorised Economic Operator (AEO) status to the gem and jewellery sector.
What is the Reason behind Inclusion?
- Inclusion of the industry under AEO comes when export of gems and jewellery last fiscal declined 14 per cent to $32.28 billion against $37.74 billion logged in the same period last year due to weak demand.
Impact
- This significant step will help enhancing the sector's competitiveness and facilitate smoother international trade operations, leading to holistic growth of the ....
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