Thu. Mar 28th, 2024

Ministry of Commerce and Industry leader Piyush Goyal launched Steel Import Monitoring System on Monday. The system is set up to provide advance information on steel imports to the government and the related parties. Hardeep Singh Puri was also present at the launch.

Piyush Goyal said that the mode of registration on the system will be fully online and automatic, thus eliminating the need for human intervention. The granted registration number will carry the validity of 75 days. Ministry of Steel will oversee the information provided by the system. The importers can apply for registration not earlier than 60th day and not later than 15th day before the expected date of arrival of import consignment.

The system has been developed on the pattern of US Steel Import Monitoring and Analysis (SIMA) system. Importers will be required to submit information of import of 284 steel tariff lines at 8-digit HS code.

Commerce Ministry also rolled out Common Digital Platform for issuance of electronic Certificates of Origin. The platform will act as a single access point for all exporters, for all Free Trade Agreements (FTAs)/Preferential Trade Agreements. All Certificates of Origin will be issued electronically.

It is said that authorities of partner countries will be able to examine the authenticity of certificates from the website. There are also talks of making the platform live for FTAs. Though it will be done in a phased manner. Piyush Goyal, as quoted by ANI, said “Once the partner countries agree to electronic data exchange, the CoOs will be electronically sent to the customs of the partner countries. After this, there will not be any need for physical CoO copy, saving transaction cost and time for the Indian exporters.”

By Saurabh Parmar

Digital Journalist (Specializing in Indian affairs & Contemporary Political development)

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