06 August 2019 | News
Cadila Pharmaceuticals recognized as the Authorized Economic Operator (AEO) by the Central Board of Indirect Taxes and Customs.
Adding another feat to their success story, the pharmaceutical major Cadila Pharmaceuticals was recognized as an Authorized Economic Operator (AEO) by The Central Board of Indirect Taxes and Customs, which functions under the Ministry of Finance.
“In recognition and appreciation of your commitment to secure the international supply chain and in compliance with the WCO’s SAFE Framework of Standards, Indian Customs certifies your esteemed organization in the Authorized Economic Operator (AEO) program,” stated the accreditation dated July 26.
The AEO aims to enhance international supply chain security and facilitate movement of legitimate goods. It enables Indian Customs to enhance and streamline cargo security through close operation with principle stakeholders such as importers, exporters, logistics providers, custodians or terminal operators, customs brokers, and warehouse operators. It is also aimed at promoting Ease of Doing Business and to emulate global best practices.
On getting AEO accreditation Mr. K.V.R. Sarma, Vice President, Head Supply Chain said, “We have been making serious strides to strengthen our Supply Chain operations. We recently won the Best Warehouse Workforce award and now with AEO accreditation we can see our efforts paying off.”
The AEO members are eligible for various benefits such as inclusion of direct port delivery of imports to ensure just-in-time inventory management by manufacturers, inclusion of direct port entry for factory stuffed containers meant for exports by AEOs, faster disbursal of drawback amount, priority processing of assessment/examination, faster disbursal of refund, automatic activation of deferred duty payment option, among others.
Cadila Pharmaceuticals Ltd. is one of the largest privately held pharmaceutical companies. Over the past six decades, we have been developing and manufacturing affordable medicines for patients around the world. Its innovation-led drug discovery processes ensure the health and well-being of people around the world. Being a care-focused, research-driven company, we are committed to complying with the highest ethical standard in clinical research and medical practice.