India has acceded to the TIR convention on June 15, 2017, and today, it has 71 contracting parties and 59 operational countries, including India. It covers the whole of Europe and reaches out to North Africa and the Middle East. More than 35,000 operators are authorized to use the TIR system and in 2016 around 1.5 million TIR Carnets were issued. Ultimately, the system facilitates and encourages international trade, and thereby creates benefits for individuals and nations.

TIR will be a boon to India's trade and aims to integrate the economy with global and regional production networks through better connectivity. It can be an instrument for movement of goods along the International "North-South" Transport (INSTC) Corridor and would be helpful in boosting trade with the Central Asian Republics and other Commonwealth of Independent States (CIS), particularly using ports in Iran like the Chabahar port.

FICCI's Role as NIGA

FICCI has been appointed by the Central Board of Indirect Taxes & Customs (CBIC) as National Issuing & Guaranteeing Association (NIGA) for the operation of TIR system in India.