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New Delhi: India’s Commerce and Industry Minister, Piyush Goyal, declared on Friday that India will address the European Union’s proposed carbon tax on certain imports. Goyal asserted, “Bharat will address the problem of CBAM with confidence, and we will find solutions. We will see how we can convert CBAM to our advantage if it comes in. Of course, I will retaliate. You need not worry about it.”
According to a GTRI report, the proposed Carbon Border Adjustment Mechanism (CBAM) could result in a 20-35% tax on select imports to the EU starting January 1, 2026.
