EU Demand Shift Hits India’s Steel Exports, Raising Stakes for Carbon Trading Scheme
New Delhi: India’s steel and aluminium exports to the European Union (EU) fell 24.4% in financial year (FY) 2025, with steel alone down 35.1%, before any Carbon Border Adjustment Mechanism (CBAM) financial obligation had taken effect. The decline, which suggests European buyers are already reorienting toward lower-emission producers, underscores what is at stake as India’s Carbon Credit Trading Scheme (CCTS) enters its operational phase. Over the next two to five years, choices made by regulators, policymakers, and market participants on market architecture, compliance obligations, and price formation will shape how
