Internationally successful customs transit system TIR to be implemented in India

Image
ANI New Delhi [India]
Last Updated : Oct 25 2017 | 1:22 PM IST

Sandeep Kumar, Commissioner (Customs and EP), Central Board of Excise and Customs (CBEC) interacted with the participants of the Stakeholder

Consultation on TIR System organized by FICCI in association with the International Road Transport Union (IRU), Geneva in preparation for the Implementation of TIR System in India.

TIR system is an internationally successful customs transit system that enables movement of goods between countries affiliated to the TIR Convention, a 1975 UN-ratified agreement allowing for duty-free movement of freight across nations.

It is overseen by the United Nations Economic Commission (UNECE), and managed by the International Road Transport (IRU). TIR stands for "Transports Internationaux Routiers". India ratified the convention on 15th June 2017.

TIR will help Indian traders to have access to fast, easy, reliable and hassle free international system for movement of goods by road or multi-modal means across the territories of other contracting parties.

It will be a boon to India's trade and aims to integrate the economy with global and regional production networks through better connectivity. It can be an instrument for movement of goods along the International "North-South" Transport (INSTC) Corridor, which India is developing along with Russia.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 25 2017 | 1:22 PM IST

Next Story