EU's carbon tax seeks to doubly punish India: FM Nirmala Sitharaman

The finance minister said the EU has to consider India's concerns, and other countries will not view them kindly

The European Union (EU) cannot double-punish India by imposing the Carbon Border Adjustment Mechanism (CBAM) to green itself at a time when both economies are making efforts to decarbonise their industries, Finance Minister Nirmala Sitharaman told Business Standard.

“Your steel, which has to be green, and my steel, which also has to be green, are both in transition mode. We both invest in greener assets. So, if you’re punishing us doubly in the meantime, how fair is it? Our disapproval of CBAM has been clearly conveyed to them,” Sitharaman said.

The CBAM is set to enter a transition phase on