EU to help MSMEs to cope with tech, sustainability reporting

The European Union (EU) has decided to help small Indian businesses cope with its looming tax on carbon-intensive exports by funding decarbonization technologies, two industry figures said.

- Puja Das

If the 27-nation bloc makes good on the reported decision it could help address a key impediment in India's free trade talks with the EU and UK.

Indian officials say the planned carbon tax that will apply to carbon-intensive exports of cement, iron, steel, aluminium, fertilizers, electricity, hydrogen, and certain precursors is a non-tariff barrier and runs counter to New Delhi's view that rich nations must transfer green technology to developing countries free of cost on account of their historical role in causing climate change.