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Indian Goverment Relaxes Steel Import Monitoring System

Steel News - Published on Fri, 03 Apr 2020

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The Hindu Business Line reported that taking into account the delay in imports because of the disruptions caused by the Covid-19 pandemic, the Indian government has decided to give more time to steel importers to bring in the quantities that they have registered till now with the government under the steel import monitoring system. A government official told BusinessLine “The Commerce and Industry Ministry had been receiving representations from users of imported steel, including engineering goods producers, stating that the registrations made for import of steel may not be met within the time stipulated by the government because of the ongoing lockdown in the country and various other markets. They demanded that they be given a reasonable period of time for imports.”

The Directorate General of Foreign Trade decided to give a one-time relaxation by extending the validity of all automatic registration numbers generated till March 31, 2020, for a period of 60 days beyond the 75-day period allowed in ordinary circumstances.

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Posted By : Rabi Wangkhem on Fri, 03 Apr 2020
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