6000 Entities Covered Under AEO Programme, Account For 37 per cent Of Bill-Of-Entries: Revenue Secretary

ENA Sectors 2024-12-02 13:30:50 New Delhi, Dec 2 (KNN) In an address at the Global AEO Conference, Revenue Secretary Sanjay Malhotra has termed the AEO programme, operating under the World Customs Organisation's SAFE Framework of Standards, a cornerstone of India's trade strategy. Since its inception in 2011 and subsequent strengthening in 2016, the programme has recognised approximately 6,000 entities, with 37 percent of bill entries now processed through these authorised operators. This voluntary compliance mechanism enhances cargo security by fostering close cooperation among importers, exporters, logistics providers, and other critical supply chain stakeholders. Emphasising technological innovation and strategic partnerships, Malhotra outlined a comprehensive approach to transform international trade operations through the Authorised Economic Operators (AEO) programme. Articulating India's ambitious vision to emerge as the world's most efficient and trusted trade hub, he highlighted the critical role of technology, Malhotra underscored the revenue department's commitment to digital transformation. He noted that India now generates billions of bills of entry and shipping documents annually, a feat made possible only through advanced technological infrastructure. With 17 out of 20 major ports already fully automated, the government aims to digitise and streamline all port services, ensuring online accessibility at all times. Malhotra emphasised the importance of expanding Mutual Recognition Agreements (MRAs), which allow reciprocal trade facilitation between participating countries. India has already initiated joint action plans with multiple nations, including Uganda, South Africa, Japan, the United Kingdom, and BRICS countries. Notably, a joint action plan was signed with Brazil during the conference to establish a new MRA, further expanding India's global trade connectivity. The Revenue Secretary also expressed India's commitment to supporting developing countries in establishing robust AEO programmes. By sharing expertise and promoting trust-based strategies, India aims to contribute to the global standardisation of trade facilitation mechanisms, positioning itself as a leader in innovative customs and trade practices. (KNN Bureau) 40104 https://knnindia.co.in/news/newsdetails/sectors/6000-entities-covered-under-aeo-programme-account-for-37-per-cent-of-bill-of-entries-revenue-secretary 2024-12-02 13:30:50 knnindia.co.in 6000 Entities Covered Under AEO Programme, Account For 37 per cent Of Bill-Of-Entries: Revenue Secretary