The government has begun ministerial consultation on the impact of the European Union’s carbon tax on Indian industry, including on the question of whether it could act as a barrier to trade, a government official said.
Starting 1 October, iron, steel and aluminium exports to the European Union from across the world will face added scrutiny after the European Parliament earlier this week passed the Carbon Border Adjustment Mechanism (CBAM).
The tax is expected to hit Indian exports worth over $8 billion to the EU from 2026.
Under the measure, suppliers will have to report greenhouse gas emissions ‘embedded’ in their consignments before taxes are levied from 1 January 2026.
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