(Namita Pradhan, Intern Journalist) The SIMS (Steel Import Monitoring System) which takes all the details on the imports of steel on a weekly basis, the governments will soon place the same mechanisms to monitor coal, aluminum and copper imports aiming to captures all the desegregated data to facilitate the policy intervention and effective monitoring.
As the imports of coal and coke have dropped to 14.2% on year-on-year in the FY’20 to $22.46 billion. The decline of the imports of Aluminum and products to 19.3% last fiscal to $4.47 billion and the eased of 3.7% to $5.15 billion of the copper and products.
With the US Steel Import Monitoring System and Analysis(SIMA) pattern SIMS was created in order to grow the steel sector by the Commerce and Industry ministry to give advanced information about the steel imports for both the government and the stakeholders, with dealers. The SIMS came into work from last year November.
The SIMS provides data with details of the imports and importers product, the total quantity of products, and the domestically available items.
The launch of a similar mechanism by the government will help the producers of domestic such as coal and non-ferrous metal like Vedanta, Nalco, Hindalco, and Hindustan Copper to chalk out their strategies with imports substituting.
It was said by the source that the presentation was made before the commerce minister in the past month and also it was informed that the system will be adopted by mines and coal ministers for the imports of the aluminum, copper, and coal.
Under SIMS all the products of steel imports to the Country should need a prior registration, the process will be online and automatic. It is monitored by the steel ministry.