CBAM
EU to make it harder to suspend carbon fee on imports
EU economy ministers have agreed to restrict the suspension of the bloc's carbon emissions fee on imports, aiming to boost certainty for low-carbon investments.
India's biggest trade bet comes with six red flags
India may be adding more trade partners, but its latest FTA report card comes with several red marks. A new study by the Global Trade Research Initiative (GTRI) warns that while free trade agreements have become a cornerstone of India's trade strategy, the country is grappling with six persistent challenges ranging from widening trade deficits and low utilisation of tariff benefits to manufacturing shifts abroad and increasingly intrusive trade rules.
India, UK talks progressing on resolving issues for trade pact implementation: Official
India and the UK are making good progress on their free trade agreement. Discussions are ongoing to resolve issues like the UK's steel safeguard measure and carbon border adjustment mechanism. These measures have been a sticking point for the agreement. Both sides are working on proposals and counter-questions to find a solution.
India-UK FTA implementation stuck due to carbon tax on steel; Scotch duties may be rolled back to rebalance pact
India and the UK held "great conversations" to boost economic ties, with discussions focusing on the Comprehensive Economic and Trade Agreement. New Delhi is concerned about Britain's new steel safeguard measures and carbon border adjustment mechanism, potentially impacting tariff concessions on Scotch whisky. Both nations aim for swift implementation of the trade deal.
India, UK discuss sticking points delaying free trade pact rollout
As India and the UK maneuver through complex trade discussions, they are focused on addressing the sticking points that are currently slowing down their agreement. Issues like the UK's steel safeguard measures and carbon taxation are raising eyebrows. If these concerns persist, India could rethink its tariff concessions on British exports, particularly the beloved Scotch whisky.
India-US trade deal advances as talks focus on Section 301 probes and 'minor issues'
India is nearing a trade deal with the US, with most aspects of the first phase finalized. Discussions are ongoing for minor details. Meanwhile, India is working with the UK to implement their trade agreement. Key issues like UK steel measures and carbon taxes are being addressed. Both nations aim for a swift rollout of the pact.
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UK’s steel curbs emerge as an early hurdle for FTA with India ahead of roll-out. Is there a way out?
The UK has extended safeguard measures on select steel imports; starting from July 1, 2026, it will reduce tariff-free quotas by 60% and impose a 50% duty on shipments beyond the limit.
Tata Steel CEO TV Narendran cautiously optimistic; sees strong Q1 ahead as steel prices rise across India, UK, & Europe
Tata Steel CEO TV Narendran flags multi-point cost pressure from the West Asia crisis but says the company has so far recovered most input cost increases from the market. Narendran eyes a stronger Q1 FY27 with better prices in India, the UK, and the Netherlands. India's volume growth and UK policy support are key drivers.
Europe learnings to put Tata Steel ahead in India
Tata Steel anticipates its UK operations will achieve break-even this fiscal year. This positive outlook stems from recovering steel prices and implemented cost-saving measures. In India, the company plans significant production capacity expansion solely through brownfield development. This strategic move aims to align with market growth and maintain market share.
Tata Steel shares crack 4% after Q4 results. Here's why JPMorgan downgraded the stock
Tata Steel's shares dipped despite a 147% surge in Q4 FY26 net profit to Rs 2,965 crore. Analysts are divided, with JPMorgan downgrading to 'Neutral' citing regulatory headwinds in the Netherlands and project delays, while Morgan Stanley maintains 'Overweight' on strong domestic and UK performance.
‘Europe will become irrelevant for us’: JSW Steel doubles down on India growth with massive capex plan
JSW Steel plans to double its capacity with minimal external capital, driven by strong domestic demand and a focus on maintaining market share. The company's confidence stems from structural improvements in its EBITDA floor and efficient brownfield expansion, ensuring robust internal cash generation to fund growth.
Nuclear sprint for a power-hungry India
India is embracing small modular reactors for its clean energy future. These advanced nuclear units offer a stable power source, complementing renewable energy. SMRs are seen as crucial for decarbonizing heavy industries and boosting India's global standing. The nation is moving forward with this technology to meet rising energy demands and reduce fossil fuel reliance.
EU’s CBAM expansion to impact Indian engg, auto parts, machinery exports: GTRI
India's exports of engineering goods, auto parts, and machinery to Europe face potential carbon tax hikes as the EU expands its Carbon Border Adjustment Mechanism. Starting 2028, the CBAM will cover a wider range of manufactured industrial goods, including stricter rules for recycled materials. This move could significantly impact Indian manufacturers exporting to the bloc.
EU's proposed CBAM expansion may impact Indian exporters: GTRI
The European Union is set to broaden its Carbon Border Adjustment Mechanism, which could lead to a spike in carbon tax expenses for Indian goods shipped to Europe. Exporters in India must quickly adapt by enhancing their emissions tracking and implementing decarbonisation strategies.
Jindal Steel deploys syngas in furnaces to counter shortages of natural gas, LPG
Jindal Steel has successfully used syngas in its galvanizing and color coating furnaces. This move counters shortages of natural gas, LPG, and propane. It allows the company to maintain operations amid supply disruptions. Jindal Steel is a pioneer in using syngas for steelmaking. This innovation strengthens energy security and supports low-carbon steel production.
EU’s carbon tax kicks in from Jan 1, may hit Indian steel and aluminium exports: GTRI
The EU's carbon tax on metals, including steel and aluminium, comes into effect from Thursday, impacting India's exports. Indian exporters may need to cut prices by 15-22% to absorb the Carbon Border Adjustment Mechanism (CBAM) tax, which shifts from reporting to payment in 2026. Accurate emissions accounting and verification will be crucial for market access.
CBAM to cost India 0.03 pc of GDP, domestic carbon tax can blunt impact: Analysis
A new study indicates India's GDP could decline due to the EU's Carbon Border Adjustment Mechanism (CBAM) if implemented without a domestic carbon pricing system. The EU levy would particularly impact urban household consumption. However, India could mitigate these effects by implementing its own carbon tax and retaining the revenue, supporting a smoother economic transition.
India reserves right to negate Britain's CBAM impact
The India-UK free trade agreement lacks provisions for Britain's proposed Carbon Border Adjustment Mechanism (CBAM). Officials stated that if the UK implements CBAM in the future, India reserves the right to implement measures to mitigate its impact on domestic exports. This understanding, formalized in a note verbale, allows India to counterbalance any trade disadvantages arising from the UK's CBAM.
Arrow still in India's quiver: FTA allows claiming damages from UK over carbon tax losses
India-UK free trade agreement includes provisions to counter the UK's Carbon Border Adjustment Mechanism (CBAM), set to begin January 1, 2027. India reserves the right to retaliate or seek compensation for losses incurred by its industries due to the CBAM. This "rebalancing" mechanism aims to shield India from potential disputes at the WTO.
CBAM, EUDR trade protection measures in garb of of climate, environment: Economic Survey
The EU's CBAM and EUDR could affect $9.5 billion of India's exports by imposing trade protection measures disguised as climate and environmental regulations. The schemes are expected to impact various sectors, with CBAM translating into a 20-35% tax on certain imports by 2026.
India, 3 others oppose China-led investment pact at WTO
India and three other nations oppose the China-led WTO investment agreement, preferring consensus on non-trade issues. Meanwhile, India evaluates its stance on the EU's Carbon Border Adjustment Mechanism (CBAM) amidst ongoing FTA negotiations, concerned about potential tariffs impacting domestic industries.
Panel formed to review methods for calculating emissions as per EU norms
India has established a committee to tackle challenges from the EU's Carbon Border Adjustment Mechanism. The group includes members from key ministries and industries. They will review and recommend methodologies for emission reporting. The CBAM impacts various sectors and will start imposing a tax on imports from 2026, affecting India’s exports significantly.
Carbon Border Adjustment Mechanism aims for fair trade, global decarbonisation: EU official
Director-General of the European Commission, Gerassimos Thomas, led a group of officials to New Delhi to discuss tax and customs issues, with a focus on CBAM, on July 1 and 2.
Union Steel Minister Jyotiraditya Scindia asks domestic industry to use AI
Union Steel Minister Jyotiraditya Scindia urged stakeholders in the steel sector to increase the application of Artificial Intelligence (AI) in their steel plants. He emphasized this during a Chintan Shivir organized by the Ministry of Steel, focusing on the impacts of the Carbon Border Adjustment Mechanism (CBAM) and the pivotal role of AI.
Exporters seek clarity on EU's carbon certification
Exporters are seeking clarity on how the European Union will provide certification for industries' carbon footprint when the EU Carbon Border Adjustment Mechanism (CBAM) comes into effect. CBAM will impact sectors such as cement, iron and steel, aluminium, fertiliser, electricity, and hydrogen. Traders will need to provide information on the emissions of their imports, and compliance certificates will be required.
To counter rich nations' environment levies, carbon tax on imports in the works
Currently deliberations are on among the ministries of environment, forest and climate change, finance, and commerce and industry to devise such duties based on 'polluter pays' principle. The move comes in the backdrop of the European Union's Carbon Border Adjustment Mechanism (CBAM)
India-EU work stream on CBAM, FDI, WTO to address trade, tech issues
Officials said that the two sides have established a work stream under the India-EU TTC wherein issues have been clubbed under five broad areas—market access, World Trade Organization, FDI, CBAM and global value chains. The work stream will address key issues in these areas.
Further study needed on CBAM impact on trade, enterprises, consumers: Piyush Goyal
October 1 this year, when non-EU steel producers must report direct and indirect emissions. Domestic companies from seven carbon-intensive sectors including steel, cement, fertiliser, aluminium and hydrocarbon products would have to seek compliance certificates from the EU authorities to comply with the CBAM norms.
India views EU’s proposal on carbon tariff a protectionist tool, weighs options to counter it
From October 1 this year, exporters, including from India, of steel, aluminium, cement, fertilisers, hydrogen and electricity will have to document and share emission data with the EU. From January 1, 2026, the EU will start collecting CBAM as an import tariff from “dirty” goods. India’s iron, steel and aluminium exporters, it says, will be hit hard as 27% of the country’s exports of these products are to EU.
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