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Steel News September 17, 2019 04:30:01 PM

Commerce Ministry Launches New Steel Import Monitoring System

Paul Ploumis
ScrapMonster Author
The Steel Ministry will monitor the information on steel imports provided by the importers.
Commerce Ministry Launches New Steel Import Monitoring System

SEATTLE (Scrap Monster): The Indian government has announced launch of new Steel Import Monitoring System (SIMS). The system launched by the Commerce Ministry will help in providing advance information about steel imports to various stakeholders. The system was developed in consulation with the Ministry of Steel.

According to Piyush Goyal, Commerce and Industry Minister, the importers of specified steel products will have to make advance registration in the SIMS web portal, by providing necessary information. The entire registration process will be online, implying that no human intervention will be required.

The Minister stated that the importer could register with the portal not earlier than 60th day and not later than 15th day before the expected date of arrival of import consignment. Once the registration is succesful, the importer will be granted an automatic registration number, which will remain valid for a period of 75 days. The importers will have to pay a prescribed registration fee as well.

The online registration system will be applicable for 284 steel tariff lines.

The Steel Ministry will monitor the information on steel imports provided by the importers.

In addition, the Commerce Ministry has also launced a new platform for issuance of electronic Certificates of Origins.