EU’s carbon tax norms daunting Indian industry

New Delhi: Indian industry from sectors like steel has flagged its serious concerns over the burdensome work of data reporting requirement to comply with the European Union’s carbon tax decision and has urged the government to take up the matter with the EU, an official said.

The issue was flagged in a meeting called by the Commerce Ministry on September 6. The government and industry held discussions on implementation issues regarding the European Union’s move to impose carbon tax or carbon border adjustment mechanism (CBAM). Industry is of the view that the data sharing exercise is burdensome as the EU is seeking a lot of information.