Asian Star, a premier diamond and diamond jewellery maker and GJEPC member, has been given AEO Status, becoming the first in the Indian gem and jewellery sector to earn this recognition.
GJEPC recently organized a highly instructive Outreach Program aimed at gaining Authorized Economic Operator (AEO) status in order to improve international trade operations, promote supply chain security, and boost global competitiveness. The event, held on March 18, 2024, at the Bharat Diamond Bourse, brought together industry stakeholders interested in overcoming the challenges of AEO certification.
AEO accreditation is widely recognized for signaling a company’s commitment to secure and efficient international trade processes, with benefits including simpler customs procedures, lower inspection rates, and improved supply chain security.
As an AEO status holder, Asian Star is entitled to the following benefits:
AEO-T1 Benefits:
- Import/export procedures have been simplified, resulting in faster cargo release times.
- Eligibility for Direct Port Delivery (DPD) or Direct Port Entry.
- ID cards enable easy entrance to Customs Houses, CFSs, and ICDs.
- Bank guarantees are reduced by 50% when compared to non-AEO firms.
- Customs, Central Excise, and Service Tax matters are resolved expeditiously.
- Onsite PCA is performed once every two years.
- 24/7 clearance at all seaports and airports, with no MOT fees.