India’s government has indicated it will take steps to mitigate the impact of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on Indian steel exports, according to Steel Ministry Secretary Sandeep Poundrik.
Speaking on February 11, Poundrik said that while CBAM-related costs will continue to affect exports to the EU, government intervention is being considered to help steel producers maintain shipments. The EU currently accounts for around 75 percent of India’s steel exports to Europe.
Although tariffs were reduced under the recently signed India–EU free trade agreement, CBAM-related charges were not addressed. Government sources said inter-ministerial discussions are ongoing, including the possibility of an export incentive scheme, though any support would need to comply with World Trade Organization anti-subsidy rules.
VietnamSteel by Hoa Sen Group
