Non-Ferrous Metal Import Monitoring System - NFMIMS

Non-Ferrous Metal Import Monitoring System

Introduction

The Non-Ferrous Metal Import Monitoring System (NFMIMS), introduced by the Directorate General of Foreign Trade (DGFT), aims to monitor and regulate the import of non-ferrous metals like copper and aluminum.
The Non-Ferrous Tracking System became evident as the first project to ensure the traceability and control of the import of these metals.
NFMIMS has been actualized by the Ministry of mines to track imports aluminum and copper and mandate all importers of these metals.
A unique registration number (URN) starting with NFS is given to the importer after the registration with NFMIMS.
Non-based for aluminium and steel code 43 aluminium products under HS code 76 and 46 copper products under HS code 74.
The point of the framework is to give satisfactory information on the import of the aluminium and the copper framework to give information to the stakeholders and have a significant role in a Atma Nirbhar Bharat and vision 2030 for aluminium industry.

Non-Ferrous Metal Import Monitoring System - Features

A license application can cover many products.
NFMIMS provides multiple entries for every record, to find out the buyer, importer, manufacturer, country of origin and port of export are same.
NFMIMS has the ability to view online registrations.
Further, the applications which have not yet been submitted for registration in the DGFT portal are available at NFMIMS for verification and further processing.
NFMIMS is available 24×7.
For the benefit of the traders/consumers, it is suggested that the registrations should be submitted or withdrawn earlier so as not to disturb the business of the company.
And it has a simplified data submission for the importers to provide the details of expected date of arrival, type quantity of metals.

Benefits of Non-Ferrous Metal Import Monitoring System

Increased Transparency: increased transparency and visibility in the import process.
Improved Data Accuracy: Real time data collection gives more reliable information for decision making.
Timely Policy Interventions: the government can quickly deal with market problems or imbalances.
Import Process: Streamline compliance and reduce administrative burden for importers.
Effective data-driven policy making: the government can make policies based on accurate and up-to-date information and promote a better non-ferrous metals market in India.

Documents Required

Digital Signature Certificate (DSC) (e-Token).
Import Export Code (IEC).
RCMC- Registration Cum Membership Certificate.
Business Certificate- Company details along with PAN card and GST registration certificate.
IEC Holder’s Aadhar card.

Frequently Asked Questions (FAQs)

What is NFMIMS?

NON-FERROUS METAL IMPORT MONITORING SYSTEM.

What are non-ferrous metals?

we can simply consider the metals as NON-FERROUS which contains zero amount of iron involved in the metals.

Is IRON a NON-FERROUS?

No, Aluminium and Copper are considered as non-ferrous metals.

Who are eligible for NON-FERROUS?

Anybody who are in the import business can enroll for NFMIMS to import copper and aluminium.

Is NFMIMS necessary?

For an entity or company who wants to import copper and aluminium, it is necessary for them to register with NFMIMS.

What is the fee of NFMIMS registration?

Rs.500 for the registration of the NFMIMS as directed by the Directorate General of Foreign Trade (DGFT).

Validity of NFMIMS?

NFMIMS is valid for 75 days from the date of issue.

Is Aluminium a non-ferrous metal??

Yes, as it does not contain IRON in it.

Conclusion

NFMIMS (Non Ferrous Metal Import Monitoring System) will play an important role in the growth and sustainability of India’s metal importing sector by promoting awareness and supporting domestic industries and assisting in decision making. And for the companies or organizations who are already are in the importing business of aluminium and copper, this NFMIMS will help them with documents and their status of import through online 24×7.

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Non-Ferrous Metal Import Monitoring System - NFMIMS