With reference to the advantages of the Authorized Economic Operator AEO status in the gem and jewel...........

Indian Economic System(RAS) External Sector

With reference to the advantages of the Authorized Economic Operator (AEO) status in the gem and jewellery sector, consider the following statements

AEO status enhances the international credibility of firms, making them more attractive to potential global partners.
Firms with AEO status are prioritized for government subsidies in the gem and jewellery sector.
The AEO status provides firms with legal protection against customs and trade disputes.

How many of the above statements is/are correct?

Only One

Only Two

All Three

None

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Explanation:

Only statement 1st is correct.

Statement 1 is correct as AEO status does enhance a firm’s international credibility by demonstrating compliance with global supply chain security standards, making them more attractive to partners.
Statement 2 is incorrect because government subsidies are not directly linked to AEO status.
Statement 3 is also incorrect; while AEO status provides various facilitations in customs procedures, it does not grant legal protection against customs and trade disputes.

Hence option 1st is correct.