INDIA-EU 2 LST

The European Industrial Fasteners Institute in its
complaint had alleged that the Indian producers have benefited
from a number of subsidies granted by the government like duty
entitlement passbook scheme, duty drawback scheme, income tax
exemption and the focus market scheme.
Alleging injury to European firms, the complainant said
the schemes are subsidies since they involve a financial
contribution from the government to exporters/producers of
stainless steel fasteners and parts thereof.
"The volumes and the prices of the imported product
concerned have, among other consequences, had a negative
impact on the market share held, the quantities sold and the
level of prices charged by the Community industry, resulting
in substantial adverse effects on the overall performance...,"
the complainant has said. PTI