The EU’s CBAM taxes 25% on India’s energy-intensive exports, impacting 0.05% of GDP, per CSE. Targeted goods: iron, steel, cement, fertilizers, aluminum. Exports to the EU made up 9.91% (2022-23). 26% aluminum, 28% iron, steel were EU-bound. CBAM-covered goods formed one-fourth of global exports. No hydrogen, electricity exported. Debates occur at UN climate conferences.
PSB dollar sales help rupee close flat at 95
The Indian rupee held steady against the dollar on Monday. State-run banks sold dollars, supporting the rupee. Foreign exchange markets are now focused on upcoming
June 2, 2026