Mumbai, Sep 6 (PTI) The first inter-modal digital TIR-based pilot transport from India to Iran through the INSTC corridor was flagged off from Nhava Shewa (Jawaharlal Nehru Port) on Monday, according to a statement.
"The first inter-modal digital TIR pilot transport between India and Iran, which facilitates seamless and paperless cross-border transit of goods, under the customs guarantee of the TIR system, was flagged off from Nhava Shewa on Monday," industry body FICCI said in a statement on Tuesday.
The International North-South Transport Corridor (INSTC) is India's vision and initiative to reduce the time taken for EXIM (Export-Import) shipments to reach Russia and Europe, and enter the Central Asian markets.
The 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 provides many benefits by simplifying the movement of national and international transport, giving access to over 64 TIR operational countries, as per FICCI.
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).
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