New sys­tem to mon­i­tor steel im­ports

The Times of India (New Delhi edition) - - Times Global - TIMES NEWS NET­WORK

New Delhi: The gov­ern­ment has put in place a new mech­a­nism to mon­i­tor steel im­ports even as the Di­rec­torate Gen­eral of Trade Reme­dies (DGTR) re­views the de­mand for pro­tec­tion from cheap im­ports. Sources said that do­mes­tic steel play­ers are ex­pected to sub­mit fresh data to ar­gue for pro­tec­tion. Both the com­merce de­part­ment and the steel min­istry are back­ing the im­po­si­tion of duty. The industry is com­plain­ing of an ad­verse im­pact from In­done­sia, Viet­nam, South Korea and Ja­pan, where India has free trade agree­ments.

So far, the gov­ern­ment has re­lied on feed­back from the industry before ini­ti­at­ing ac­tion to check im­ports. But it has put in place a new Steel Im­port Mon­i­tor­ing Sys­tem for a more trans­par­ent track­ing of ship­ments. Now, in­stead of “free” im­ports, steel con­sign­ments will be al­lowed “free sub­ject to com­pul­sory reg­is­tra­tion”.

For ship­ments from Novem­ber, im­porters are re­quired to sub­mit in­for­ma­tion in ad­vance, which could be 15-60 days before the ar­rival of the con­sign­ment, and ob­tain an on­line reg­is­tra­tion num­ber. This will be valid for 75 days.

The new on­line sys­tem is mod­elled on the lines of the Steel Im­port Mon­i­tor­ing and Anal­y­sis Sys­tem (SIMA) in the US.

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