Posted on 29 Jul 2024
The Indian Ministry of Steel has unveiled an upgraded version of the Steel Import Monitoring System (SIMS 2.0) portal. It aims to improve steel import monitoring, support the growth of the domestic steel industry and achieve self-sufficiency in steel production, Kallanish notes.
It was launched by Indian steel and heavy industries minister H.D. Kumaraswamy on 25 July. Kumaraswamy says it is a key milestone and is part of the new government’s 100-day agenda.
The upgraded SIMS 2.0 portal includes several features such as API integration with several government portals, a robust data entry system and more. The portal will aid in better risk management due to the integration of various databases. The monitoring system was modified based on industry feedback. SIMS was first launched in 2019.
The revamped system was developed in collaboration with the Ministry of Commerce and Industry’s Directorate General of Foreign Trade (DGFT), Bureau of Indian Standards (BIS), and Metal Scrap Trade Corporation (MSTC). MSTC is a central public sector enterprise (CPSE) under the Ministry of Steel.
Steel ministry secretary Nagendra Nath Sinha notes the need for enhancing domestic production capabilities due to significant Indian finished steel imports. Indian finished steel imports stood at around 8 million tonnes in the fiscal year ending March 2024 (FY24).
Accurate monitoring of steel imports is vital to maintaining a healthy trade balance, driving growth, and attracting sustained investment in India's steel industry, Sinha adds. The upgraded SIMS 2.0 is seen playing a significant role in achieving these objectives.
In early July, India’s steel and commerce ministries were reported to be in discussions over solutions to rising imports, especially low-priced product arriving from China (see Kallanish passim).
Kumaraswamy has also released the second volume of the book “Safety Guidelines for Iron of Steel Sector.” It includes guidelines for 16 different processes used by the iron and steel sector and is currently voluntary in nature.
“I am happy to release this book and hope that these guidelines will be widely adopted by the iron and steel industry, and help the industry to become world class in adopting safety standards and eliminating accidents,” the minister adds.
Source:Kallanish
