Q.3) What will be the implications of the carbon border adjustment mechanism (CBAM) introduced by the EU for Indian industries? What steps Indian industries can take to mitigate the impact? (10 Marks)

“Mentor’s Comments”

  • https://indianexpress.com/article/opinion/columns/eu-ghg-emissions-law-indian-industry-7421960/
  • In the intro, give a brief introduction of Fit for 55 legislation.
  • In the body, mention that India’s goods trade with the US was $ 74 billion in 2020, the CBAM will have implications for energy-intensive industries in India that export to the EU, also mention that India lacks any carbon tax or cap of its own. In the steps suggest clean technology partnership with the European industries, investment in renewable energy, diversification of export markets etc.
  • Conclude by mentioning that the CBAM may seem obstructionist. But over the long-term, it can provide regulatory certainty to industry by harmonising carbon prices

 

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Utkarsha Yadav
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