In keeping with the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM) principles, India is planning its own carbon tax, particularly for exports to European nations, according to a report by The Hindu Businessline (BL).
Indian officials will selectively levy a tax “applicable only on EU exports affected by CBAM.” The tax will thus remain within India and will be accounted for at the time of export, either through carbon credit or certification.
Source: www.business-standard.com
