India's commerce minister, Piyush Goyal, on Tuesday, said that India is concerned about the European Union's unfair Carbon Border Adjustment Mechanism (CBAM) and is taking up the issue with the EU and the World Trade Organisation (WTO).
The Minister of Commerce and Industry stated that India would refuse to accept any unjust charges or taxes. Furthermore, India will actively engage and persevere in order to secure a just agreement.
"I will assure you that we are extremely concerned about CBAM...We are taking it up with the WTO very seriously. We shall try to work and fight to get a fair deal for the Indian producers and exporters and nobody is complacent about CBAM," Goyal said while addressing the fourth edition of the Indian Steel Association's annual conclave in New Delhi.
EU introduced the CBAM or carbon tax on imports of carbon-intensive products from non-EU countries. Since October this year, it came into effect for seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, it will fully come into effect from 1 January 2026.