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

October 10, 2024 Comments Off

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…