Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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.
Also Read : Indian government panel backs higher carbon tax on coal imports Adani builds world’s largest renewable energy park in Gujarat
1️⃣ India advances green steel policies to cut CO₂ emissions and meet net-zero targets.2️⃣ Leading s...
Business 02-Apr-2025
The European Commission announced on Thursday its approval of €6.9 billion ($7.4 billion) in st...
Europe 15-Feb-2024
Google has pledged 25 million euros ($26.98 million) towards initiatives aimed at promoting artifici...
Europe 12-Feb-2024
The European Union's implementation of the Carbon Border Adjustment Mechanism (CBAM) poses significa...
Announcement 01-Apr-2025
Steel Authority of India Ltd (SAIL) has firmed up plans to build a state-of-the-art steel plant at B...
Mid Corporate 13-Jun-2024
In 2023, something remarkable happened in Europe's energy landscape. Wind power, with its mighty tur...
Europe 07-Feb-2024