Carbon tax: India has right to take corrective steps

INDIA has secured a commitment from the UK that if its proposed Carbon Border Adjustment Mechanism (CBAM)—referred to as a carbon tax—adversely impacts Indian exports in the future, New Delhi will have the right to seek corrective steps, government sources said.

- DIPAK MONDAL @ New Delhi

ALLAYING fears that allowing UK businesses to participate in India's public procurement sector under the India-UK trade pact may hurt local enterprises — especially MSMEs — commerce ministry officials have said that the decision will mutually benefit both countries.

The ministry clarified that Indian suppliers will be able to participate in the UK's public procurement market, which is worth approximately $122 billion. In return, India opens up a procurement market estimated at $114 billion to UK suppliers.