{"id":99374,"date":"2023-04-06T11:12:00","date_gmt":"2023-04-06T05:42:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=99374"},"modified":"2023-04-06T11:10:14","modified_gmt":"2023-04-06T05:40:14","slug":"biz-india-europe-trade","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-india-europe-trade\/","title":{"rendered":"EU&#8217;s carbon tax to impact exports from India, least developed economies: Experts"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2490005898\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The European Union&#8217;s carbon tax regime will affect exports from countries, including India and least developed countries, to that region, trade experts said on Wednesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-869561949\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>EU is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year.<\/p><p>According to a report by economic think tank Global Trade Research Initiative (GTRI), CBAM will translate into a 20-35 per cent tax on select imports into the EU starting January 1, 2026.<\/p><p>Professor Amita Batra from Jawaharlal Nehru University said the mechanism has a protectionist element in it.<\/p><div class=\"trade-content_5\" id=\"trade-2737270959\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>It will impact trade with countries like India and least developed countries as it targets products being exported by these nations, she said during a webinar on her book \u2013 India&#8217;s Trade Policy in the 21st Century.<\/p><p>She also noted that India&#8217;s share in EU&#8217;s trade is small.<\/p><p>Participating in the discussion, Professor Penny Goldberg from Yale University said CBAM would kill trade in low income countries, including India.<\/p><p>The mechanism would put &#8220;huge&#8221; tax on products produced by using polluting techniques.<\/p><p>GTRI in its report has stated that CBAM will have an adverse impact on India&#8217;s exports of metals such as iron, steel and aluminium products to the EU.<\/p><p>In 2022, India&#8217;s 27 per cent exports of iron, steel, and aluminium products of value USD 8.2 billion went to the EU, according to GTRI co-founder Ajay Srivastava.<\/p><div class=\"trade-content-10\" id=\"trade-1697399075\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Srivastva has suggested that the government should consider taking steps to deal with the situation.<\/p><p>He has recommended setting up a task force to prepare administrative ministries and the industry to meet the CBAM challenge, educating all steel and aluminium firms to meet the October 1 deadline, and setting up the carbon market in India. PTI RR RAM<\/p><div class=\"trade-after-content\" id=\"trade-464994616\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The European Union&#8217;s carbon tax regime will affect exports from countries, including India and least developed countries, to that region, trade experts said on Wednesday. EU is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. According to a report by economic think tank Global Trade Research Initiative (GTRI), CBAM will translate [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":98598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-99374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU&#039;s carbon tax to impact exports from India, least developed economies: Experts - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The European Union&#039;s carbon tax regime will affect exports from countries, including India and least developed countries, to that region, trade experts said on Wednesday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=99374\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU&#039;s carbon tax to impact exports from India, least developed economies: Experts\" \/>\n<meta property=\"og:description\" content=\"The European Union&#039;s carbon tax regime will affect exports from countries, including India and least developed countries, to that region, trade experts said on Wednesday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=99374\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-06T05:42:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/export-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/export-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=99374\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=99374\",\"name\":\"EU's carbon tax to impact exports from India, least developed economies: Experts - 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