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Carbon Border Adjustment Mechanism
November 7 , 2023
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- The European Union’s proposed Carbon Tax on imports is an ‘ill-conceived’ move that would become the “death knell” for its manufacturing sector.
- It Initially covers iron and steel, cement, aluminium, fertilisers, and electric energy production
- India would counteract it by imposing its own carbon tax.
- India is considering a strategy to impose domestic taxes on high-carbon goods and utilize the generated revenue to facilitate its transition towards green energy.
- This approach aims to circumvent the European Union’s carbon tax on imports.
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