Import Data Revisions Highlight Migration Issues in EXIM System
ECONOMY & POLICY

Import Data Revisions Highlight Migration Issues in EXIM System

The Directorate General of Commercial Intelligence and Statistics (DGCI&S) under the Ministry of Commerce and Industry has revised EXIM trade data from April to November 2024, following discrepancies identified during the migration of SEZ data to the ICEGATE system.

An unusual surge in precious metals imports during November 2024 prompted a detailed review by DGCI&S and the Central Board of Indirect Taxes and Customs (CBIC). Initial findings revealed that data migration led to double counting, with both SEZ imports and their clearance into the Domestic Tariff Area (DTA) being recorded as separate transactions.

Data Migration Challenges Previously, EXIM data was transmitted separately by SEZ Online and ICEGATE systems. Following the decision to consolidate reporting under ICEGATE, technical glitches have delayed the migration. As a result, both systems continue to transmit data independently, leading to inconsistencies.

Revised Data and International Standards DGCI&S has updated its figures as part of regular data corrections aligned with international norms. The revisions reflect more accurate trade statistics and are available on the DGCIS Data Dissemination Portal.

To address future challenges, a committee comprising DGCI&S, CBIC, and SEZ representatives has been formed to establish a robust mechanism for consistent data reporting.

Statistical Process and Accuracy Data revisions are standard in global statistical practices to ensure accuracy and quality. Quick Estimates, while timely, are preliminary and subject to updates as more information becomes available. This iterative process underscores the commitment to providing reliable trade data.

The Directorate General of Commercial Intelligence and Statistics (DGCI&S) under the Ministry of Commerce and Industry has revised EXIM trade data from April to November 2024, following discrepancies identified during the migration of SEZ data to the ICEGATE system. An unusual surge in precious metals imports during November 2024 prompted a detailed review by DGCI&S and the Central Board of Indirect Taxes and Customs (CBIC). Initial findings revealed that data migration led to double counting, with both SEZ imports and their clearance into the Domestic Tariff Area (DTA) being recorded as separate transactions. Data Migration Challenges Previously, EXIM data was transmitted separately by SEZ Online and ICEGATE systems. Following the decision to consolidate reporting under ICEGATE, technical glitches have delayed the migration. As a result, both systems continue to transmit data independently, leading to inconsistencies. Revised Data and International Standards DGCI&S has updated its figures as part of regular data corrections aligned with international norms. The revisions reflect more accurate trade statistics and are available on the DGCIS Data Dissemination Portal. To address future challenges, a committee comprising DGCI&S, CBIC, and SEZ representatives has been formed to establish a robust mechanism for consistent data reporting. Statistical Process and Accuracy Data revisions are standard in global statistical practices to ensure accuracy and quality. Quick Estimates, while timely, are preliminary and subject to updates as more information becomes available. This iterative process underscores the commitment to providing reliable trade data.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code