Ue-India: iron and steel export under fire, Delhi concerned

New Delhi - India's exports of certain iron items to the European Union(EU) has come under the scanner as seven EU producers have lodged a complaint with the European Commission (EC) that imports of such articles from India and China are being dumped causing material injury to them. The European Commission has already initiated an inquiry into an allegations that certain items of grey iron and ductile cast iron from India are being 'dumped' into the EU region. This action of India is adversely affecting local industry. India's main exports to Europe have been Iron & steel and their related articles. Exports of these products had fallen from US $3.86 billion in 2015 to US $ 3.07 billion in 2016. Meanwhile, India's exporters are more concerned locally about cash crunch due to the demonetisation of high currency notes last month and growing support for protectionism in Europe and the US. India's exports to the US and the European Union nations accounted for 16 and 17 percent respectively of the total goods exports from the country. US President-elect Donald Trump may announce protectionist policies next month after taking over the charge. Similarly, elections are due in the Netherlands, France and Germany in 2017 and parties favouring protectionist have gained mileage in these countries.