The Carbon Border Adjustment Mechanism (CBAM) is the European Union’s planned tax on the carbon emitted while making goods imported from countries like India and China. The move has sparked a debate at multilateral forums, including the United Nations climate conferences, as the poorer countries fear such tariffs will harm livelihoods and economic growth.
Director-General of the European Commission, Gerassimos Thomas, led a group of officials to New Delhi to discuss tax and customs issues, with a focus on CBAM, on July 1 and 2. He met the Indian government officials and business leaders to explore the manner in which it might affect the Indian industries and explain CBAM’s goals and timeline.
Thomas welcomed India’s plans to decarbonise its economy, underlining the shared commitment to collaborate with India in their decarbonisation efforts, the European Commission said in a statement.
“My mission was an excellent opportunity to have direct, in-depth and meaningful interactions with my Indian counterparts and business representatives on a wide range of tax and customs matters, as well as CBAM. The importance of EU-India relations is growing. Both sides want to deepen this relationship to benefit business,” Thomas said.
Diese Geschichte stammt aus der July 07, 2024-Ausgabe von The Business Guardian.
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