The government on Monday launched a steel import monitoring system (SIMS) to provide advance information about steel imports to various stakeholders including producers and importers to have effective policy interventions.

Minister of Commerce and Industry Piyush Goyal and his junior colleague Hardeep Singh Puri launched the system developed in consultation with Ministry of Steel on the pattern of US Steel Import Monitoring and Analysis (SIMA) system.

Importers of specified steel products will register in advance on the web portal of SIMS providing the necessary information. The registration will be online and automatic with no human intervention.

The importer can apply for registration not earlier than 60th day and not later than 15th day before the expected date of arrival of import consignment. The automatic registration number granted will remain valid for 75 days.

The information about the steel imports provided by importers on the SIMS will be monitored by the Steel Ministry.

SIMS will require importers to submit advance information in an online system for import of 284 steel tariff lines at 8-digit HS code in order to obtain an automatic registration number by paying a prescribed registration fee.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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