EU’s carbon tax kicks in from Jan 1, may hit Indian steel and aluminium exports: GTRI

The EU's carbon tax on metals, including steel and aluminium, comes into effect from Thursday, impacting India's exports. Indian exporters may need to cut prices by 15-22% to absorb the Carbon Border Adjustment Mechanism (CBAM) tax, which shifts from reporting to payment in 2026. Accurate emissions accounting and verification will be crucial for market access.