EU carbon tax: India flags risk of trade info getting compromised

News Snapshot:

INDIA HAS FLAGGED concerns relating to sensitive and confidential trade data of its exporters getting compromised while complying with the European Union’s Carbon Border Adjustment Mechanism (CBAM) — the world’s first system that imposes carbon emission tariffs on iron, steel, aluminium and cement, among other such items imported into the 27-nation bloc. Indian manufacturing exports in sectors such as steel, oil refining and cement align extremely favourably with global cost competitiveness benchmarks and the concerns flagged by Indian exporters pertain to sensitive trade secrets in these segments getting compromised. While the CBAM is set to come into effect from 2026,...