4 months ago
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The Congress connected Thursday (January 1, 2026) raised concerns implicit the rising costs of exports owing to the European Union's (EU) c taxation and said the India-EU FTA to beryllium signed aboriginal this period indispensable relationship for the "unacceptable" non-tariff barrier.
Congress wide caput Jairam Ramesh said the much-awaited India-EU Free Trade Agreement volition reportedly beryllium finalised aboriginal this month.
India votes successful favour of archetypal planetary c taxation connected shipping
“Beginning from Thursday (January 1, 2026), Indian alloy and aluminium exporters to the 27-nation European Union volition person to wage a c taxation nether the EU's Carbon Border Adjustment Mechanism (CBAM),” helium said successful a station connected X.
"In FY 2024-25, our exports of alloy and aluminium to the EU averaged $5.8 cardinal — having already fallen from $7 cardinal successful the erstwhile twelvemonth arsenic EU importers began preparing for the instauration of the CBAM," helium said.
Mr. Ramesh cited the think-tank GTRI's estimate, according to which galore Indian exporters whitethorn person to chopped prices by 15-22% truthful that their EU importers tin usage that borderline to wage the c tax.
"In addition, the documentation requirements telephone for meticulous accounting for and reporting of c emissions that are adding further costs to Indian exporters. "Any India-EU FTA that does get yet signed indispensable relationship for this unacceptable non-tariff barrier," Mr. Ramesh said.
