Story perspectives

India Aids Steelmakers Amid EU Carbon Cost Challenges

2/10/2026

Summary

Story summary

India plans to support its steelmakers facing the European Union's Carbon Border Adjustment Mechanism (CBAM), which imposes carbon costs on imports.
CBAM affects about two-thirds of India's steel exports to Europe, prompting companies to seek new markets in Africa and the Middle East.
The Indian government says climate policies are reshaping trade competitiveness.
The European Union is considering an exemption clause for CBAM, raising concerns about decarbonization investments.

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Story summary

India plans to support its steelmakers facing the European Union's Carbon Border Adjustment Mechanism (CBAM), which imposes carbon costs on imports.
CBAM affects about two-thirds of India's steel exports to Europe, prompting companies to seek new markets in Africa and the Middle East.
The Indian government says climate policies are reshaping trade competitiveness.
The European Union is considering an exemption clause for CBAM, raising concerns about decarbonization investments.