The Commission said late on Friday it was opening an investigation into whether or not the steel wire is being unfairly subsidised and has invited the Indian government for consultations on the matter. - Reuters

BRUSSELS: The European Commission said it had received an anti-dumping complaint by European steel producers' group Eurofer against imports of stainless steel wires from India.

The complaint alleges that producers of certain types of steel wire have benefited from a number of subsidies granted by India, and are selling their wire in the EU at below-market prices hurting European competitors.

The Commission said late on Friday it was opening an investigation into whether or not the steel wire is being unfairly subsidised and has invited the Indian government for consultations on the matter.

India and the European Union have been negotiating a free trade agreement since 2007, but talks stalled this year over differences in duties on cars and market access for software and service companies.

The EU is India's biggest trade partner and bought more than 40 billion euros ($49.26 billion) worth of Indian goods and services in 2010. But trade with India represented just 2.4 per cent of the EU's total.

India has also locked horns with the 27-country bloc recently over an EU law to make all airlines flying in and out of Europe pay for their carbon emissions.

India has said it won't comply with the law, but changes to the aircraft leases almost all of its airlines rely on may force the country's hand.

More From This Section

Dar’s statement helps dollar gain 1pc

Dar’s statement that the dollar will be kept around Rs98 to support the export industry created panic-like situation.

Ministry set to auction 3G, 4G licences despite more roadblocks

The senate body’s recommendations will not stop the auction process to be held on April 23.

Nawaz vows to spend $1.6bn on Balochistan development

Addressing the cabinet meeting in Islamabad, the prime minister said that he himself will monitor these projects.

KSE-100 closes lower, rupee weakens

The stock market continued to consolidate above 29,000 points due to a holiday in global equity markets


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Poll
From The Newspaper
Tweets