EU CARBON
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.
Sustainable Aviation Fuel production volumes still disappointing: IATA DG Willie Walsh
The International Air Transport Association (IATA) has released estimates showing that global Sustainable Aviation Fuel (SAF) production is expected to reach around 2.4 million tonnes in 2026, representing just 0.8% of aviation fuel use, at a cost to airlines of USD 4.3 billion.
EU could lose 1.3 million jobs due to energy price surge linked to Iran war, Commission says
European industries are bracing for significant job cuts. Up to 1.3 million jobs are at risk across automotive, construction, metals, chemicals, and transport sectors due to Middle East conflict. The automotive industry alone could see 600,000 layoffs. Energy-intensive industries are particularly vulnerable. Low-income households will also face higher transport fuel costs.
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.
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India-Germany climate talk highlights green industrial partnership as key driver of future growth
Held at the German Embassy in New Delhi, the discussion focused on the strategic importance of industrial transformation at a time when countries across the world are seeking to balance climate ambitions with economic resilience, energy security and future competitiveness.
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.
India should now focus on FTA implementation, utilisation by exporters: Experts
For India to leverage its Free Trade Agreements effectively, a paradigm shift in strategy is imperative. Experts caution that the disparity between secured market access and the realization of exports is widening.
European Union's public debt to be on unsustainable path without action, IMF says
European Union nations face significant financial challenges in defence, energy, and pensions over the next 15 years. The International Monetary Fund warns that without action, public debt will become unsustainable. Reforms, consolidation, and potentially joint borrowing are suggested to manage these rising costs and ensure a stable financial future for the bloc.
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.
Steel safeguard measure hits India-UK trade pact rollout
India's trade deal with the UK is delayed by new British steel rules. Officials are seeking a creative solution for early implementation. Meanwhile, India and the US are nearing an interim trade agreement. India also aims to boost exports to $1 trillion by 2026-27, with ongoing reviews for pacts with Korea and the Maldives.
One trip, one ticket: New EU rules aim to ease train travel
The EU plans to force railway companies to sell rivals' tickets on their websites and share data with booking platforms, under new rules unveiled Wednesday aiming to boost train travel. Under the new rules the company responsible for the delay will have to re-route or reimburse travellers and provide assistance, including overnight accommodation and meals where necessary.
The Long Drive: 14 decades of the automobile that changed how we travel
Fourteen decades, countless journeys and one invention that changed humanity. Atul Bandekar takes us on a ride through the story of the automobile
Why are oil and gas prices down today, and will Brent, US WTI crude futures, Dutch and British gas rates drop further or rise again? Here's if oil prices will hit $110 soon
Why are oil and gas prices down today, and will Brent, US WTI crude futures, Dutch and British gas rates drop further or rise again? Oil and gas markets moved lower as traders reacted to expected US-Iran talks, warmer weather forecasts, and shifting supply risks. Brent and WTI crude reversed earlier gains while European gas fell on weaker demand. Investors now watch the Strait of Hormuz, supply disruptions, and inventory data to assess whether prices will fall further or rise again soon.
Iran war fuel hike adds $100 to long-haul flight cost, study says
A war in Iran has significantly disrupted oil supplies. This has pushed up jet fuel prices. Long-haul flights from Europe now cost over $100 more per passenger. Flights within Europe also see a price increase. Airlines warn of higher ticket prices for travelers this spring and summer. The European Union is preparing guidelines for managing fuel supply.
India explores FTA full use with Norway, sets up fast-track investment system with Austria
India and Norway are enhancing cooperation in energy, maritime, and biotech sectors. Norway sees growing investment interest in India. Meanwhile, India and Austria have launched a Fast-Track Mechanism to facilitate investments and resolve issues. This initiative aims to expand bilateral trade and leverage industrial complementarities. Both nations are prioritizing sustainable development and green technologies for future collaboration.
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.
Basel III fragments as US, Europe and India take diverging paths on bank capital rules
Fifteen years after its finalization, the Basel 3 accord's goal of uniform global banking rules has fragmented. National regulators are now selectively implementing the framework, prioritizing local economic and political considerations over strict adherence, leading to divergent capital requirements and a less comparable international banking system.
Fuel prices aren’t airlines’ only headache
Global aviation industry is grappling with geopolitical tensions, rising fuel costs and uncertainty over the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), run by International Civil Aviation Organization, which is set to become mandatory from 2027.
EU-India trade deal leaves bloc's carbon border tariff intact
India and the EU have reached a trade deal, but the EU's carbon border tariff will remain unchanged despite India's concerns. The EU pledged no country will receive favorable treatment under the scheme, while agreeing to technical talks and providing support for India's emission reduction efforts.
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 plans to protest EU's carbon tax at WTO meeting: Sources
India plans to oppose EU's carbon tax on imports on proposed carbon tax on imports of steel, iron ore and cement at the next meeting of World Trade Organization (WTO). India argues that the regulations unfairly target the country of origin. The opposition comes as the country believes that it would emerge as a new trade barrier.
EU carbon tax to hurt global trade, not to stop carbon leakage, says think tank
The think tank in its report claimed that the real reasons the EU introduced CBAM are to protect uncompetitive local industries from cheaper imports; to earn considerable revenue to fund its budget; and to operationalize the trillion-dollar subsidy initiative. "If this disrupts world trade, the EU is okay. The EU needs this money to continue to provide substantial subsidies to its firms and farmers. The new regulations can provide a full share of the EU budget," Srivastava said.
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.
UK carbon price plunge raises risk of green levies on exports to EU
Industries across the world are preparing for the EU's carbon border tax which will come effective from 2026 imposing a fee on polluting imports.
India seeks exemptions for MSMEs from EU's carbon tax: Sources
India is urging the European Union (EU) to enter into a mutual recognition agreement for its carbon certificates and exempt small and medium enterprises in certain sectors from the EU carbon tax, according to a government official. The EU is introducing its Carbon Border Adjustment Mechanism (CBAM) from 1 October, which will translate into a 20-35% tax on select imports from 1 January, 2026.
Top government officials, industry leaders likely to meet on May 4 to discuss EU's carbon tax
Top officials from India's finance, commerce, and steel ministries, along with industry leaders, are scheduled to meet on May 4 to discuss the European Union's carbon border adjustment mechanism (CBAM). The CBAM is causing concern for India as it may have a negative impact on the country's metal exports to the EU. The EU's new mechanism, which will impose a 20-35% tax on select imports, including iron, steel, and aluminium, will start from January 1, 2026.
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