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Indian steel CEOs to allay US fears on dumping

India is sending a high-level delegation to the US to allay its fears over Indian steel imports that have recently invited anti-dumping actions and countervailing duty investigations.

The Confederation of Indian Industry's steel CEOs mission led by steel secretary N N Khanna will meet key (US) government officials, Congressmen and industry representatives during the visit from July 29 to August 4.

"The prime issue of concern for the Indian steel sector is the specific anti-dumping actions and countervailing duty investigations initiated by the US against Indian steel exports, despite imports from India being negligible," the CII said.

Indian steel exports to the US hit a roadblock with the imposition of a 35 per cent customs duty on hot rolled coils in April. The US accounted for 70 per cent or $200 million worth hot rolled coils exports from India.

The delegation will also discuss with the US the Indian steel industry's offer of a 'suspension agreement' that would seek to limit and regulate the price and quantity of steel exported to the US.

Indian steel industry feels that such an agreement would not only benefit both the countries but also become a long-term basis for growth in economic and trade relations.

The delegation would also try to develop a framework for further co-operation.

It includes B Muthuraman of Tata Iron & Steel Company Limited, J Mehra of Essar Steel Limited, Vinod Mittal and Barin Das of Ispat Industries Limited, S W Wagh of Steel Authority of India Limited and two senior CII directors, Dilip Chenoy and Kiran Pasricha.

The mission is scheduled to meet select members of the Congressional Caucus on Steel chaired by Congressman Phil English. It will also meet Congressman Ed Royce and Congressman Jim McDermott, co-chairmen of Congressional Caucus on India and Indian Americans.

In Washington, the team will talk to Ralph Ives, Assistant USTR (US Trade Representative) for Asia and Pacific and APEC Affairs, Florie Liser, Assistant USTR for industry and Elena Bryan, director for ASEAN and India.

The Indian delegation would also meet Faryar Shirzad, assistant secretary for import administration, Department of Commerce and Al Larson, under secretary for economic, business and agricultural affairs, Department of State.

Meetings with the heads of the American Institute for International Steel and Steel Manufacturers Association have also been organized to dispel concerns that imports from India posed a threat to the US steel industry.

They will also participate in a seminar that would seek to highlight American policies and initiatives in response to the global challenges.

Indo-Asian News Service

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