Commerce Minister Piyush Goyal Warns EU Carbon Tax May Increase Costs
Union Commerce and Industry Minister Piyush Goyal has warned that the European Union's carbon tax on industrial products could significantly increase infrastructure costs and fuel inflation. Speaking at the Berlin Global Dialogue, he criticized the EU's Carbon Border Adjustment Mechanism, stating it could negatively impact European businesses and consumers by raising the costs of essential materials like steel and cement. Goyal also pointed out the failure of developed nations to meet their climate finance commitments and emphasized the need for climate policies that consider the responsibilities of both developed and developing countries. Additionally, he advocated for boosting bilateral trade between India and Germany from 31.5 billion euros to 310 billion euros, focusing on collaboration in manufacturing and technology.
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