DGFT notifies Launch of Steel Import Monitoring System (SIMS) 2.0

The Directorate General of Foreign Trade (DGFT) has launched the Steel Import Monitoring System (SIMS) 2.0 to enhance oversight and regulation of steel imports into India. This updated system requires steel importers to provide detailed information about their shipments, including the end-use of the steel products. SIMS 2.0 aims to improve data accuracy, reduce fraud, and ensure compliance with trade regulations. Importers must submit a Steel Import Monitoring System (SIMS) declaration before shipping their goods, which will be verified by the DGFT. The initiative is expected to streamline the import process and strengthen regulatory controls over the steel industry.