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The European Union’s Carbon Border Adjustment Mechanism (CBAM), implemented in October 2023, is set to impose carbon tariffs on imports of emission-intensive products, including steel. This aims to prevent carbon leakage and push global decarbonization.
A study by IIM-Lucknow, IMT-Ghaziabad, and Yale University highlights CBAM’s challenges for India’s steel industry. While large steelmakers may adapt by shifting to lower-carbon production, SMEs will struggle due to financial and technological constraints, creating an uneven playing field.
The report warns that CBAM could increase costs for Indian exporters and impact trade, especially amid ongoing India-EU Free Trade Agreement negotiations. Researchers urge policymakers to support SMEs in meeting carbon standards, ensuring a fair transition.
With the European Commission preparing new CBAM guidelines, India must engage in proactive discussions to protect its steel sector. A balanced approach is essential to prevent trade disruptions while aligning with global sustainability goals.
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