India-US to soon ink agreement to expedite cargo clearances: CBIC Chairman Vivek Johri

NEW DELHI: India and US are in advanced talks for Authorized Economic Operators (AEO)-Mutual recognition agreement to expedite cargo clearances for which cabinet will soon discuss the proposal, CBICChairmanVivekJohri said.

“Cabinet will soon approve the AEO-MARagreementbetweenIndiaUS,” he said at the Trade Facilitation conferenceorganisedbyCII.

Johri said that under the agreement the AEOs of India will get the same benefits as those of US get andvice-versa.

The agreement will expedite the cargo movements in both countries. There are no pecuniary benefits howeverundertheagreement.

India, US have a preliminary agreement on this which will now needtobeimplemented.

India set to meet $2-trillion

MUMBAI: Union Minister of State for Commerce Hon’ble Smt Anupriya Patel said while Inaugurating Plexconnect 2023, India’s first even export-focused plastics exposition organised by Plastics Exports Promotion Council (Plexconcil), and also expressed the confidence that the country would achieve the target of2billion-dollarexportsasthenation turns into a 5 trillion-dollar economy. She added that India has emerged as a major hub for the world to source theirrequirements.

Shri Santosh Sarangi (IAS), Additional Secretary & Director General of Foreign Trade, who was