"Collectively, the world will have to take a view on this. We will be focusing our energies to get other countries on board to address the serious concern that the Carbon Border Adjustment Mechanism (CBAM) has generated," the minister said at a steel industry event.
He said India is extremely concerned about the tax and has taken it up with the EU."We are taking it up at the World Trade Organisation (WTO) very very seriously. We shall be able to fight it together to get a fair deal for Indian producers and exporters."
CBAM entered its first phase of implementation from October. The first phase involves reporting of carbon emissions during the production stage of seven bulk commodities cement, iron and steel, aluminium, fertilisers, electricity and hydrogen.
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