Adani Enterp. 2452.20↑18.55(0.76%)
Adani Ports 746.25↑0.85(0.11%)
Apollo Hospitals 5021.75↑81.65(1.65%)
Asian Paints 3217.85↑5.10(0.16%)
Axis Bank 979.65↑11.45(1.18%)
B P C L 365.90↑9.75(2.74%)
Bajaj Auto 4766.20↑39.95(0.85%)
Bajaj Finance 7076.00↓-37.95(-0.53%)
Bajaj Finserv 1476.00↑0.90(0.06%)
Bharti Airtel 834.15↑4.70(0.57%)
Britannia Inds. 4862.00↑156.60(3.33%)
Cipla 976.90↑4.85(0.50%)
Coal India 230.20↑2.40(1.05%)
Divi's Lab. 3551.30↑13.40(0.38%)
Dr Reddy's Labs 4673.05↑36.40(0.79%)
Eicher Motors 3724.85↑19.75(0.53%)
Grasim Inds 1765.70↓-0.70(-0.04%)
H D F C 2635.75↑0.40(0.02%)
HCL Technologies 1128.85↑0.25(0.02%)
HDFC Bank 1599.45↓0.05(0.00%)
HDFC Life Insur. 592.30↑12.60(2.17%)
Hero Motocorp 2957.00↑52.20(1.80%)
Hind. Unilever 2720.20↑29.05(1.08%)
Hindalco Inds. 415.55↓0.00(0.00%)
ICICI Bank 934.55↓-7.55(-0.80%)
IndusInd Bank 1307.50↑1.50(0.11%)
Infosys 1285.00↑6.00(0.47%)
ITC 443.15↑0.35(0.08%)
JSW Steel 718.65↑5.80(0.81%)
Kotak Mah. Bank 1946.00↓-13.05(-0.67%)
Larsen & Toubro 2300.00↑22.05(0.97%)
M & M 1405.00↓-6.20(-0.44%)
Maruti Suzuki 9759.95↑23.75(0.24%)
Nestle India 22160.00↑454.60(2.09%)
NTPC 176.00↑0.60(0.34%)
O N G C 153.60↓-0.05(-0.03%)
Power Grid Corpn 238.85↑3.55(1.51%)
Reliance Industr 2477.30↓-2.05(-0.08%)
SBI Life Insuran 1240.05↑17.05(1.39%)
St Bk of India 587.85↑2.50(0.43%)
Sun Pharma.Inds. 1016.05↑2.25(0.22%)
Tata Consumer 810.20↑18.10(2.29%)
Tata Motors 571.70↑15.95(2.87%)
Tata Steel 109.20↑0.20(0.18%)
TCS 3253.05↑20.75(0.64%)
Tech Mahindra 1086.60↑0.35(0.03%)
Titan Company 2882.90↑1.45(0.05%)
UltraTech Cem. 8119.60↑10.05(0.12%)
UPL 696.20↑2.20(0.32%)
Wipro 402.15↑2.20(0.55%)

Carbon tariff may hurt European nations more than India: Officials

Govt assessing possible impact of CBAM on India vis a vis other nations

Shreya Nandi New Delhi

Premium

European Union

4 min read Last Updated : May 14 2023 | 6:18 PM IST

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The government is studying the possible impact of the European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM) on India vis à vis other countries, as it gears up to tackle the bloc’s move to impose a levy on imported carbon-intensive products.

As part of a detailed assessment of the possible repercussions of the CBAM, officials believe the EU will also feel the pinch as the carbon tariff will increase inflationary pressure on the bloc. They said considering that the EU is already facing the risk of a recession, the CBAM may hurt European nations more than India.

“The EU is bringing the CBAM in a manner which will be inflationary for them. The cost of steel and aluminium in the EU will go up since (its) industry will have to match up to the standards,” a senior government official told Business Standard.