New Delhi: To support India’s steel industry, HD Kumaraswamy, Union Minister of Steel and Heavy Industries, launched the upgraded Steel Import Monitoring System (SIMS) 2.0. The event, attended by Bhupathiraju Srinivasa Varma, Minister of State for Steel and Heavy Industries, Nagendra Nath Sinha, Secretary, Ministry of Steel, and other senior officials, marks a major step forward in monitoring steel imports and promoting domestic industry growth.
Introduced in 2019, SIMS has been instrumental in providing detailed steel import data to the domestic industry. The revamped SIMS 2.0, developed based on industry feedback, aims to enhance the efficiency and effectiveness of monitoring steel imports. The availability of detailed data supports policy-making and signals areas for production and growth to the domestic steel industry.
SIMS 2.0 integrates with multiple government portals through API, enhancing quality control and streamlining processes. The robust data entry system ensures consistent and authentic data, promoting transparency and accountability. The integration of various databases enables stakeholders to identify areas of risk and manage them more effectively. For instance, if an import consignment declares a source not licensed by BIS, the Ministry can recommend against its import. This detailed data also enables Customs to conduct better analysis and risk management of steel imports.
The development of SIMS 2.0 is a collaborative effort, involving the Directorate General of Foreign Trade (DGFT), Bureau of Indian Standards (BIS), and MSTC Ltd., a Central Public Sector Enterprise (CPSE) under the Ministry of Steel.
HD Kumaraswamy highlighted the inclusion of SIMS 2.0 in the Government of India’s 100-day agenda, emphasizing its importance in bolstering the domestic steel industry and achieving self-sufficiency in steel production, aligning with the vision of Atmanirbhar Bharat.
Shri Bhupathiraju Srinivasa Varma underscored that the enhanced portal will provide stakeholders with actionable intelligence and data-driven insights, enabling more effective decision-making and strategic planning.
Nagendra Nath Sinha pointed out that while India is the second-largest steel producer globally, finished steel imports remained significant at around eight million tonnes in 2023-24. He stressed the need for enhanced domestic production capabilities and accurate monitoring of steel imports to maintain a healthy trade balance, drive growth, and attract sustained investment in India’s steel industry. He expressed confidence that SIMS 2.0 would play a crucial role in achieving these objectives.