By IndraniBagchi, TNN | Updated: Jun 20, 2017, 10.16 AM IST
NEW DELHI: India became the 71st country on Monday to join the United Nations TIR Convention, the international customs transit system, to position itself as a regionaltrading and transit hub. The TIR system is the international customs transit system with the widest geographical coverage. As other customs transit procedures, the TIR procedure enables goods to move under customs control across international borders without the payment of the duties and taxes.
TIR Convention is more than a transport agreement and has a strong foreign policy element. In a world where China’s ‘One Belt One Road’ (OBOR) is the dominating project straddling economics and geopolitics, India has no option but to play a better game if it wants to be counted as a serious rising power.