"We have offered that both sides sit together and decide on quota which India can export and mutually acceptable price," said steel secretary Ashok Basu.

Basu had led an Indian delegation to Germany on February 10, this year and held discussions with state secretary, federal ministry of economics, Dr Schomerus regarding this issue. Germany is the current chairman of EU to be followed by Finland.

The European Union has already started anti-dumping and anti-subsidy investigations against India on the issue of dumping Hot Rolled (HR) coils. Basu said Indian exports to EU were less than one per cent of their total consumption and therefore, anti-dumping proceedings were unjustified.

India exported about 0.5 million tonnes of all kinds of steel to EU and HR coil imports specifically were only 2.49 lakh tonnes.

But throughinterpolation EU had concluded that imports from India totalled 4.36 lakh tonnes in 1998.

According to international figures the consumption of steel is 131 million tonnes. The figure of 4.36 lakh tonnes was arrived at by taking into account actual imports for the period of January to June and import licences issued for the period of July to December.

Basu said he had also held discussions with a delegation from Finland on February 12 led by secretary for economy, Erki Virtanen, while on February 13, Minister of State for Iron and Steel Ramesh Bais met an Austrian delegation.

Bais had told the Austrian delegation led by Hannes Farnleitner, Federal Minister for economic affairs that impediments like countervailing duties and anti-dumping duties imposed on steel exports by EU countries should be removed.

"So far we have spoken to few member states only and we are ready to hold talks with EU to resolve the matter. The response from them so far is quite positive", Basu said.

He said India did notintend to cause any injury to the EU steel market adding that "India does not believe in business of dumping nor does it subsidise its exports."