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Centre Plans Revamp to Speed Up Steel Imports
The Centre is preparing a major overhaul of the Steel Import Monitoring System (SIMS) to make steel imports faster and less cumbersome, especially for MSME and mid-sized manufacturers
Under the proposed changes, the requirement for consignment-wise declarations is likely to be removed, replacing it with a more simplified reporting mechanism. The move is aimed at cutting paperwork, reducing delays at ports and improving ease of doing business for users who rely on imported steel grades that are not always available domestically.
Officials indicated that the revamped SIMS will still retain data visibility for policymakers, allowing the government to monitor import trends and respond to any surge in sensitive categories, but without the current level of transaction-by-transaction compliance burden.
The reform comes at a time when the government is trying to balance two objectives:
protecting domestic steelmakers from unfairly priced or dumped imports, and
ensuring timely access to critical raw materials for engineering, construction, auto and capital goods industries.
Industry participants expect that a more streamlined, digital and less intrusive SIMS will help reduce logistics bottlenecks and working-capital lock-ups, particularly for smaller firms that lack large compliance teams.
Also Read : MSME Steel Importers Urge Govt for Exemption on Stuck Shipments Govt to Fast-Track BIS Approvals for Taiwan Steel to Aid MSME Exports
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