Industry asked the government to raise the issue of carbon tax with the European Union – Dainik Savera Times
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New Delhi: Expressing concern over the cumbersome task of providing necessary information to comply with the carbon tax system being implemented in the European Union, some sectors of the Indian industry, such as steel, have requested the government to take up the issue with the European Union. An official said domestic exporters raised the issue seriously in a meeting called by the Commerce Ministry on Wednesday.
The industry said that to comply with the terms of the carbon tax system, they will have to provide a large amount of product information to the EU, which in itself is a cumbersome task. The European Union is going to make the amount of carbon emissions the basis while approving the import of any product. For this, the carbon limit adjustment system is going to be implemented from October 1.
However, the recovery of carbon tax will start from January 1, 2026. According to the official, the industry has also mentioned seeking commercially sensitive information. “We discussed all these points,” he said. We are trying to understand their problems.” The industry believes that this provision may have an adverse impact on Indian products exported to the European Union.
There is a possibility of greater impact on exports due to carbon emissions, especially in iron, steel and aluminum products. According to a report by the Global Trade Research Initiative (GTRI), an economic research institute, it will be mandatory for carbon-intensive sectors like steel, cement, fertilizers, aluminum and hydrocarbons to report their emissions levels to the EU from October 1 and this will not happen. Penalty will also be imposed for doing so. In view of these apprehensions, domestic exporters are demanding the government to raise this matter with the European Union in this regard.
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