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India Intends to Appeal Against CBAM Through WTO
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2023-06-26
The European Union aims to become a climate-neutral economy by 2050, ahead of India's target of 2070. Senior Indian government officials and industry sources have revealed that the EU is proposing to impose tariffs of 20 to 35 percent on high-carbon emission goods such as steel, ore and cement imported from India, for which India intends to file a complaint with the World Trade Organization.
"The EU is erecting high trade barriers in the name of environmental protection to hit exports from India and many other developing countries," said a senior Indian government official. India intends to sue EU through WTO and seek relief for exporters, especially vulnerable small businesses.
Another government official involved in WTO affairs said India considers EU's proposed carbon tax as discriminatory and tantamount to a trade barrier, and mentioned that New Delhi will abide by the UN's Paris climate agreement, questioning the legality of EU's carbon tax.
Ajay Sahai, director general of the Federation of Indian Export Organizations (FIEO), said steel and small manufacturers need more time to meet the EU standards, and that these industries will eventually have to reduce emissions to remain globally competitive.
FIEO also warned that free trade agreements between India and other countries, as well as trade agreements developed by the European Union, may be impacted by CBAM and become "all for nothing," because the carbon tax will increase the price of many exports by nearly one-fifth, and trading partners hit by the carbon tax may dump their goods into India.
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