Business
Centre Eases Rules For Import Of Steel Not Covered Under Quality Control Orders
New Delhi: The government on Thursday announced new measures to ease rules for import of steel grades not covered under Quality Control Orders (QCOs), apart from approving extension of certain exemptions after reviewing the concerns submitted by industry participants.
In order to streamline the regulatory framework governing steel imports and to facilitate ease of doing business, the Ministry of Steel undertook a review of the existing import-related requirements. It also reviewed the requirement for obtaining clarification or No Objection Certificate (NOC) from the Ministry of Steel for import of steel grades not covered under any QCO.
“Based on the recommendations of the High-Level Committee on Non-Financial Regulatory Reforms (HLC-NFRR), it has been decided that steel grades not covered by any Quality Control Order will no longer require clarification or NOC from the Ministry of Steel,” according to an official statement.
All steel grades not covered under any QCO — across all HSN Codes relating to the Ministry of Steel — have been mapped on the Steel Import Monitoring System (SIMS) Portal. Importers may directly generate SIMS numbers for such non-QCO grades through the Portal without seeking any reference or approval from the Ministry of Steel, the statement added.
As per the Quality Control Orders issued by the Ministry of Steel, all grades of steel covered under the Orders are required to be imported only from manufacturers holding valid and operative BIS licences for the relevant grades.
In cases where import of QCO-covered steel grades is proposed from manufacturers who do not possess BIS licences, an exemption mechanism is already in place and such applications are examined by the Committee constituted on May 14, 2020.
The Committee, comprising representatives from the Bureau of Indian Standards (BIS), Directorate General of Foreign Trade (DGFT) and domain experts, will continue to examine applications and decide on granting exemptions for import of QCO-covered steel products manufactured by non-BIS licensee units, said the ministry.
Also, based on representations received from industry, the Ministry had earlier granted exemption from mandatory QCO compliance for specified Chapter 73 steel products for imports with Bill of Lading having shipped on board date on or before 31.10.2025.
“This exemption has now been extended to imports with Bill of Lading having shipped on board date on or before 31.03.2026,” according to the ministry. The ministry had earlier exempted three Indian Standards applicable to stainless steel flat products — IS 6911, IS 5522 and IS 15997 — for imports with Bill of Lading having shipped on board date on or before 31.12.2025.
“This exemption has now been extended to imports with Bill of Lading having shipped on board date on or before 31.03.2026,” it added.
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Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India
Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold is currently consolidating after sharp swings in a broad range, indicating a pause rather than a reversal. Price action shows a higher-high structure intact, but the recent sideways movement suggests indecision near the upper supply zone around 158,000–160,000. The formation resembles a short-term flag/triangle continuation pattern, where a breakout on either side will define the next directional move. Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. The bands have started to contract, signaling a potential volatility expansion ahead. Sustaining above the mid-band (~150,500–151,000 zone) keeps bullish bias intact, while a breakdown below this could trigger a deeper mean reversion toward the lower band.For the week, immediate support for gold prices is placed at around Rs 150,500, which is followed by stronger support near Rs 148,500. On the upside, the resistance stands at around Rs 155,500, and after that the key supply zone is at Rs 158,000. A decisive close for gold above Rs 158,000 levels can then resume the broader uptrend. However, a break in gold prices below levels of Rs 148,500 may shift the momentum to bearish in the near term.The economic docket is filled with data points and events this week as the focus will be on FED, BOJ, ECB and ECB policy meetings. US consumer confidence, GDP, inflation and durable goods orders data will also be in radar.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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