Ministry of Mines, Govt. of India: Processing to install import monitoring mechanism for aluminium items

In an effort to bring in transparency and accountability in pricing and quality of imports, the Government of India will put in place import monitoring systems for aluminium.

According to sources, the Ministry of Mines is at an advanced stage of the process to bring in the import monitoring systems.

The manifesto is to monitor the import of 43 aluminium items under Chapter 76 HS codes out of a total of 91 items. The ministry has already held consultations with various stakeholders for this purpose.

Monitoring of 43 items of aluminium will cover 99.08% of the total value of aluminium imported, which stands at INR 38,166 crore in FY19. India imports aluminium scrap worth over INR 17,000 crore. It is not very clear if the monitoring system will include aluminium scrap, which is mostly imported from developed countries.

The import monitoring system will monitor for value, volume, and quality technicalities along with the country of origin.

Once the monitoring mechanism is approved by the ministry, it will be formalized by the Directorate General of Foreign Trade (DGFT).

source https://www.alcircle.com/news/ministry-of-mines-govt-of-india-processing-to-install-import-monitoring-mechanism-for-aluminium-items-57307