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CBAM arbitrary, can hurt industry: FM
Business Standard
|October 10, 2024
EU's deforestation rules could disrupt India's supply chains, says Sitharaman
Finance Minister (FM) Nirmala Sitharaman on Wednesday termed the Carbon Border Adjustment Mechanism (CBAM) tax as 'unilateral' and 'arbitrary' that will hurt India's industries.
Sitharaman noted that the proposed Deforestation Act by the European Union (EU) will cause a major disruption in the supply chain and not help countries like India that are spending heavily on transition costs.
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