Govt meets industry to discuss readiness to comply EU's carbon tax

: Top officers of government and industry representatives from the steel sector on Wednesday held discussions on implementation issues regarding the European Union's move to impose carbon tax, sources said.

The meeting was called by the commerce ministry and was chaired by Commerce Secretary Sunil Barthwal. Senior officials from ministries of Finance, Department for Promotion of Industry and Internal Trade, Power, Steel and Mines participated in the meeting besides the steel and engineering sector.

They also said that India and the EU would soon decide on a schedule to discuss the matter during the Trade and Technology Council (TTC) meeting. The meeting was a follow-up of a similar meeting held in May where the industry was asked to be ready for the carbon border adjustment mechanism (CBAM). The Wednesday's meeting comes amid the CBAM being implemented by the European Union (EU), which would have an adverse impact on India's exports of metals such as iron, steel and aluminium products to the EU.