WASHINGTON, Mar 28: Certain categories of Indian steel pipes being exported to the US received a subsidy of about 300 per cent, an American trade body said today.
As a result, the US Department of Commerce has instructed Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates, an official statement said.
“In the India investigation, mandatory respondents Zenith Birla (India) Ltd and Lloyds Metals and Engineers Ltd both received preliminary net subsidy rates of 285.95 per cent, based on the application of adverse facts available,” the International Trade Administration said.
All other Indian producers/exporters also received a preliminary net subsidy rate of 285.95 per cent, it said.
In 2011, imports of certain steel pipe from India, Oman, the UAE and Vietnam were valued at an estimated USD 64.5 million, USD 28.1 million, USD 5