NEW DELHI: Expressing serious concerns over the European Union’s move to impose carbon tax on imports from certain sectors like steel, Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters.
He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization).
The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. “I will assure you that we are extremely concerned about CBAM…We are taking it up with the WTO very 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,” he said here at a function of the steel industry.
“We will always find innovative solutions but I can assure you that India will not be accepting unfair taxes or levies being put on the Indian steel or aluminum industry or any other industry,” he said adding “let us not be scared of it and find solutions which will be to our advantage going forward”.