EU carbon levy may tilt steel trade away from India: Kuehne + Nagel's exec

In worst-case scenario, European importers could shift towards China, says Kuehne + Nagel's exec

The European Union’s Carbon Border Adjustment Mechanism (CBAM) -- which comes into effect at the beginning of next year -- could significantly affect India’s steel export in the long term as rising costs and emission rules may render Indian exports less competitive, Marc Bernitt, senior vice-president of Customs, EMEA & Asia Pacific at logistics giant Kuehne + Nagel, told Business Standard.

 

“In the worst case, European importers could even shift to China or other countries that can supply lower-emission products at competitive prices,” Bernitt said in an interaction.

 

He said the CBAM -- a carbon tariff on imports