The European Union (EU) has decided to support Indian Micro, Small, and Medium Enterprises (MSMEs) in addressing the challenges posed by its upcoming carbon tax, the Carbon Border Adjustment Mechanism (CBAM), by funding decarbonisation technologies, according to two industry insiders. This move is seen as a step toward easing friction in India-EU trade relations as negotiations for a Free Trade Agreement (FTA) continue.
The European Union (EU) has decided to support Indian Micro, Small, and Medium Enterprises (MSMEs) in addressing the challenges posed by its upcoming carbon tax, the Carbon Border Adjustment Mechanism (CBAM), by funding decarbonisation technologies, according to two industry insiders. This move is seen as a step toward easing friction in India-EU trade relations as negotiations for a Free Trade Agreement (FTA) continue.