The EU has not provided any concessions to India on its carbon regulations in the trade pact, but has agreed that any relaxations granted by the 27-nation bloc to other countries under the CBAM provisions will automatically extend to Indian exporters, an official said on Tuesday.
The free trade agreement also provides for a rebalancing of rights in case the EU’s measures under this regulation impair pact benefits to Indian firms or if it fails to establish the grounds for the same.
Carbon Border Adjustment Mechanism (CBAM) or the carbon tax, which came into effect on January 1, was one of the contentious issues of the trade pact between India and the European Union (EU).
Under the mechanism, the EU will impose a carbon tax on goods such as steel, aluminium, fertiliser and cement as they emit carbon beyond a specified threshold during manufacturing. Presently, the tax applies to steel and aluminium products.
“CBAM is a difficult issue. It is a horizontal regulation without any …​The EU has not provided any concessions to India on its carbon regulations in the trade pact, but has agreed that any relaxations granted by the 27-nation bloc to other countries under the CBAM provisions will automatically extend to Indian exporters, an official said on Tuesday.
The free trade agreement also provides for a rebalancing of rights in case the EU’s measures under this regulation impair pact benefits to Indian firms or if it fails to establish the grounds for the same.
Carbon Border Adjustment Mechanism (CBAM) or the carbon tax, which came into effect on January 1, was one of the contentious issues of the trade pact between India and the European Union (EU).
Under the mechanism, the EU will impose a carbon tax on goods such as steel, aluminium, fertiliser and cement as they emit carbon beyond a specified threshold during manufacturing. Presently, the tax applies to steel and aluminium products.
“CBAM is a difficult issue. It is a horizontal regulation without any … ​Latest News [ SOBAN NEWS: International and National ]
