EU's 2026 Tax Plan Targets Non-Carbon-Neutral Indian Exports

2023 • 5min • News • Business


Published On: November 03, 2023 - The European Union is implementing a regulation called CBAM–Carbon Border Adjustment Mechanism–from January 2026, under which exports from non-EU countries to the EU will be taxed for being carbon-intensive. India is working on its own ‘Carbon Tax’ solution to ensure the tax money remains within Indian shores. 'So, if we collect the tax in India itself and use it for our green energy transition, it will help our exporters bring down our carbon footprint,' says Union minister Piyush Goyal. India aims to achieve the net zero carbon emission target by 2070. Join News9's Krishnakumar and Kartik Malhotra for more updates on this story.