October 11, 2024, 03:47 PM - 2 min read
Finance Minister Nirmala Sitharaman said that India was on track to become a net zero carbon emitter country by 2070 but now it is facing some external challenges, such as EU carbon tax and deforestation initiatives.
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July 31, 2024, 12:10 PM - 2 min read
The EU plans to enforce the CBAM, or carbon tax, starting January 1, 2026. However, beginning this October, companies in seven carbon-intensive sectors, such as steel, cement, fertilizer, aluminum, and hydrocarbon products, must report their carbon emissions data to the EU. GTRI warned that the fully implemented EU-CBAM would impose a 20-35% import tax on Indian firms. Additionally, the domestic industry would be compelled to disclose all plant and production details to the EU.
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