EU’s CBAM seen hurting Indian steel industry: finance minister

Europe’s Carbon Border Adjustment Mechanism, which levies a carbon tax on certain exports into the EU, is expected to hurt India’s steel industry, Indian Finance Minister Nirmala Sitharaman said Oct. 9, terming CBAM a trade barrier. Speaking at the FT Energy Transition Summit held in New Delhi, Sitharaman said that Europe is bringing in a tariff for what they define…Europe’s Carbon Border Adjustment Mechanism, which levies a carbon tax on certain exports into the EU, is expected to hurt India’s steel industry, Indian Finance Minister Nirmala Sitharaman said Oct. 9, terming CBAM a trade barrier. Speaking at the FT Energy Transition Summit held in New Delhi, Sitharaman said that Europe is bringing in a tariff for what they define…Read More