Source: The Economic Times, Mar 06, 2017
NEW DELHI: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday gave approval for India’s accession to the Customs Convention on International Transport of Goods for faster movement of goods.
The Convention 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, a cabinet communique said.
“By joining the convention, the need for inspection of goods at intermediate borders as well as physical escorts en route shall be obviated due to reciprocal recognition of customs controls. Customs clearance can take place at internal customs locations thereby avoiding clearances at border crossing points and ports that may often be congested,” it said.
“Movement under the TIR can be allowed by checking only the seals and the external conditions of the load compartment or the container thereby reducing border delays, transport and transaction costs thereby leading to increased competitiveness and growth for the trade and transport sectors,” it added.
Compliance with the Convention will ensure enhanced security in the supply chain as only approved transporters and vehicles are allowed to operate in terms of the Convention, the communique said.