India Unveils SIMS 2.0 to Enhance Steel Import Monitoring and Boost Domestic Industry

Tags: National News

Union Minister of Steel and Heavy Industries, H.D. Kumaraswamy, introduced the upgraded Steel Import Monitoring System (SIMS 2.0).

An Overview of the News

• The launch event was attended by Bhupathiraju Srinivasa Varma (Minister of State for Steel and Heavy Industries), Nagendra Nath Sinha (Secretary, Ministry of Steel), and other senior officials.

Purpose and Significance of SIMS 2.0:

• SIMS was originally introduced in 2019 to provide detailed steel import data.

• SIMS 2.0 is an upgraded version aimed at improving monitoring of steel imports and fostering domestic steel industry growth.

• Enhanced data availability supports policy-making and identifies production growth areas for the domestic industry.

Key Features of SIMS 2.0:

• API Integration: Connects with multiple government portals for better quality control and efficiency.

• Robust Data System: Ensures accurate and consistent data entry, promoting transparency.

• Risk Management: Helps in identifying risks and managing imports, e.g., non-BIS licensed sources.

• Development and Collaboration:

• Developed with contributions from DGFT, BIS, and MSTC Ltd. (a CPSE under the Ministry of Steel).

Additional Release:

• H.D. Kumaraswamy also released the second volume of “Safety Guidelines for Iron and Steel Sector.”

• The new volume includes guidelines for 16 different processes, building on the 25 guidelines published in 2020.