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India is set to sign the U.N. Customs Convention on the International Transport of Goods under Cover of TIR Carnets, aka TIR Convention, 1975, as it seeks seamless trade connectivity with Southeast Asian nations and the Eurasian region.
TIR facilitates smooth movement of goods across borders under single customs control from origin to destination.
Joining the convention would allow India to enjoy full benefit of the International North South Transportation Corridor (INSTC), which links India to the Eurasian region as well as to the South Asian Growth Quadrangle countries (Bangladesh, Bhutan and Nepal) through the Bangladesh, Bhutan, India, Nepal (BBIN) Motor Vehicles Agreement.
With China's accession to the convention on January 5, 2017, there are 70 parties to the TIR which includes 69 states and the European Union (EU).
