Will strongly raise EU carbon tax issue: Piyush Goyal – Dainik Savera Times

New Delhi: Commerce and Industry Minister Piyush Goyal on Friday said India will raise the carbon tax issue with the European Union (EU) ‘very strongly’ and will find a solution to it with the 27-nation alliance. He said that with this India will prepare itself to convert the issue into an opportunity. Non-tariff barriers and unilateral measures like carbon tax are a matter of concern for India. The country will deal with it in a free and fair manner under the rules of international trade.

Goyal said in ‘Raisina Dialogue 2024’, ‘Where we have to retaliate, we will retaliate. Where we have to discuss and resolve issues bilaterally we will discuss and resolve them and where we have to raise it legally we will do so,” he said, giving the example of CBAM (Carbon Border Adjustment Mechanism). Has been a matter of concern for various businesses.

Goyal said, ‘CBAM is something that we will take up strongly under WTO (World Trade Organisation) rules, we will deal with the issue bilaterally with the EU.’ Economic research institute Global Trade Research Initiative (GTRI) According to a report by ), the CBAM will translate into a 20-35 percent tax on select imports into the EU from January 1, 2026.

26.6 per cent of India’s exports of iron ore pellets, iron, steel and aluminum products go to the EU. These products will be affected by CBAM. India had exported these goods worth US $ 7.4 billion to the European Union in 2023. Goyal said India would “turn it into a win-win situation”. We have plans, (but) I can’t disclose… but I can assure every single person in India that the Prime Minister and his team will ensure that Indian businesses do not face any problem…”