Europe's Carbon Border Adjustment Mechanism (CBAM) scrutinizes high-carbon emissions in imported steel, impacting Indian exporters reliant on polluting processes. CBAM's initiation prompts India's shift towards greener steel production. India emits more carbon (2.6 tons per ton of steel) compared to the global average (1.85 tons), affecting potential duties. Steel exports of Rs 51,334.03 crore faced decline, with key markets in Europe. Indian strategies focus on Net-Zero targets by 2070, embracing Green Hydrogen and Carbon Capture technologies.
