India, Iran Put in Place Digital Tool to Push Trade

The first trial of a fully digital multimodal TIR transport (international customs transit system) between India and Iran was recently completed successfully thanks to cooperation of countries. The INSTC will be used to drive trade between India and Russia.

The only international transit system is TIR. It facilitates the shipment of goods in sealed load compartments under customs control from the country of origin through transit countries to a country of destination via a multilateral, mutually accepted system. It is the quickest, safest, and most dependable method for transporting goods across many international boundaries, saving transport companies and customs authorities both time and money.

In replacement of a TIR carnet, an electronic guarantee was provided, and all communications—including the pre-declaration—were made electronically in advance with all pertinent public and private parties, including the customs authorities. This sped up the customs and port processes.