Steel Import Monitoring System’ 2.0 Portal

29.07.2024

Steel Import Monitoring System’ 2.0 Portal

Why in the news?                        

Recently, the Union Minister of Steel and Heavy Industries, launched SIMS 2.0, the upgraded Steel Import Monitoring System.

About Steel Import Monitoring System’ 2.0 Portal:

• It features API integration with multiple government portals, enhancing quality control and streamlining processes for improved efficiency and effectiveness.
• The portal boasts a robust data entry system, ensuring consistent and authentic data, which promotes transparency and accountability. Integration of various databases enable stakeholders to locate areas of risk and, thereby, permit better risk management.

○Example: If an import consignment declares a particular source of import, which is not licensed by BIS, then the Ministry will be enabled to not recommend its import. The detailed data will enable Customs to conduct better analysis and risk management of steel imports.

• SIMS was introduced in 2019, and has played a crucial role in providing detailed steel import data to the domestic industry.
• Based on industry feedback, the Ministry has revamped the portal to develop a more effective SIMS 2.0, a significant step forward in monitoring steel imports and promoting the growth of the domestic steel industry.
• Significance: Availability of such detailed data not only provides input for policy making but also signals areas for production and growth to the domestic steel industry.

                                                                    Source: PIB

Ques :- Consider the following statements regarding the Steel Import Monitoring System (SIMS):

1. It provides detailed steel import data to the domestic industry.

2. It was launched by the Union Ministry of Commerce and Industry.

Which of the statements given above is/are correct?

A.1 only

B.2 only

C.Both 1 and 2

D.Neither 1 nor 2

Answer A