First inter-modal TIR-based India-Iran transport flagged off

The first inter-modal digital TIR-based pilot transport between India and Iran through the INSTC corridor was flagged off from Nhava Shewa (Jawaharlal Nehru Port) last week. This facilitates seamless and paperless cross-border transit of goods, under the customs guarantee of the TIR system, industry body FICCI said in a statement. The International North-South Transport Corridor (INSTC) is India's initiative to reduce the time taken for Exim (Export-Import) shipments to reach Russia and Europe, and enter the Central Asian markets. Iran’s Chabahar Port, which has been developed with Indian assistance, is the commercial transit centre for the region, especially Central Asia. India is participating in the development of the first phase of the Shahid Beheshti Terminal at Chabahar Port in cooperation with the Iranian government. The TIR (Transports Internationaux Routiers, or International Road Transports) system plays an important role in facilitating cross-border trade, adding considerable value to improving regional trade mechanisms, as per the statement. It helps in facilitation of trade and transport, preventing delays in border crossing operations by minimising the formalities, which decreases the transportation costs. This system simplifies the movement of national and international transport, giving access to over 64 TIR operational countries. Globally, such a system has been a successful model for reducing trade transaction costs and facilitating higher growth of intra-regional and inter-regional trade, according to the Federation of Indian Chambers of Commerce and Industry (FICCI). See also: Ports Minister inaugurates two STPs at Chennai PortIndian exports to China dip by a third