The Indian government is planning a significant revamp of the Steel Import Monitoring System (Sims) by removing the requirement for consignment-wise declarations, according to a media report. The move, aimed at easing the compliance burden, will allow a single registration for annual imports of up to 1,000 tonnes per entity, speeding up customs clearances at ports.
The system was introduced in 2019 to improve the traceability of various steel grades entering the country, with procedures tightened further in 2024. However, importers reported that the mandatory paperwork for each shipment often slowed down the clearance process.
Reforms Aim To Reduce Compliance Burden
"The SIMS relaxations will reduce clearance time at ports for steel consignments," a senior government official told the Economic Times. The official also said the steel ministry has recommended significantly reducing the number of data entry fields required in the SIMS.
This proposed easing follows the recent suspension of 55 quality control orders (QCOs) on steel, which is also expected to facilitate imports for steel-consuming industries, particularly micro, small and medium enterprises (MSMEs).
New Steel Policy And Plant Revival In Works
The media report added that a new national steel policy is being developed to advance the goals outlined in the National Steel Policy 2017. This new policy will include a separate chapter dedicated to the stainless steel sector, responding to industry demands for tailored support.
As part of this focused approach, the government is formulating a revival plan for the Salem steel plant, a unit of state-owned Steel Authority of India Limited (Sail). The plant is currently operating at less than half of its 70,000-tonne annual capacity. "We are targeting full capacity utilisation of the plant in the first phase," the official said, noting that easing imports of intermediate raw materials is under consideration due to challenges in domestic steel scrap availability. |
