The Indian Ministry of Steel has introduced an enhanced version of the Steel Import Monitoring System (SIMS 2.0) portal, designed to bolster the monitoring of steel imports, support the growth of the domestic steel industry, and drive towards self-sufficiency in production.
Launched on 25 July by Indian Steel and Heavy Industries Minister H.D. Kumaraswamy, the upgraded SIMS 2.0 portal is part of the new government's 100-day agenda. Kumaraswamy emphasized its significance as a key milestone for the industry.
The new version of SIMS includes features like API integration with various government portals and a robust data entry system, aiming to enhance risk management by integrating multiple databases. This upgrade was implemented following feedback from the industry. The original SIMS was introduced in 2019.
The development of the revamped system involved collaboration with the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, the Bureau of Indian Standards (BIS), and the Metal Scrap Trade Corporation (MSTC), a central public sector enterprise under the Ministry of Steel.
Nagendra Nath Sinha, Secretary of the Steel Ministry, highlighted the importance of enhancing domestic production capabilities, especially given the significant volume of finished steel imports into India, which reached around 8 million tonnes in the fiscal year ending March 2024 (FY24). Sinha stressed that precise monitoring of steel imports is crucial for maintaining a healthy trade balance, promoting growth, and attracting sustained investment in India's steel industry. The upgraded SIMS 2.0 portal is expected to play a pivotal role in achieving these objectives.
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