Carbon tax proposed by EU unilateral, arbitrary to hurt India’s export: FM Sitharaman

October 9, 2024

Finance Minister Nirmala Sitharaman criticizes the EU’s Carbon Border Adjustment Mechanism (CBAM), calling it unilateral and arbitrary. CBAM, set to start in 2026, may harm India’s exports in key sectors like steel and cement. Despite this, talks on an FTA with the EU are expected to continue.

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