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Steel Secretary Sandeep Poundrik has cautioned that the European Union’s Carbon Border Adjustment Mechanism (CBAM) could significantly impact India’s steel exports to Europe. Speaking at the FT Live Energy Transition Summit India in New Delhi, Poundrik noted that CBAM will impose a carbon price on imports from countries with lower environmental standards, directly affecting India’s steel sector.
The mechanism, set to be fully operational by 2026, initially covers iron and steel, aluminium, cement, fertilisers, electricity, and hydrogen. The tariff will be linked to the EU’s carbon price under the Emissions Trading System (EU-ETS), projected at ₹5,200 per tonne of CO₂ equivalent, with a 5% annual increase.
Poundrik highlighted that India’s steel industry is still heavily dependent on the blast furnace–basic oxygen furnace (BF-BOF) route, which is more carbon-intensive than global averages. With nearly two-thirds of India’s steel exports going to Europe, the risk of reduced competitiveness is a serious concern.
He stressed that India must accelerate adoption of electric arc furnaces, green steel technologies, and emission-reduction practices to mitigate CBAM’s impact and safeguard its export potential.
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