Union Finance Minister Nirmala Sitharaman on Friday cautioned Indian industry of impending cost to sectors such as steel from tariff walls being raised by developed economies and sought suggestions how the government could help in the green transition of such sectors.
Without naming the Carbon Border Adjustment Mechanism (CBAM), agreed upon by the European Union on Tuesday, Sitharaman said there were countries that wanted to fund their transition from not so green to green production of material for items like steel by raising tariff walls against countries that sent their products as a matter of normal export.
“When you export