The EU's carbon border tax, or CBAM, essentially puts a price on the carbon emissions embedded in imported goods like steel and aluminium. For our exporters, it's a significant new compliance cost, as they'll need to calculate and report emissions, and potentially pay tariffs if they exceed EU benchmarks. This directly pressures our industries to decarbonise faster, which is a costly transition.
From my desk in New Delhi, I see the spreadsheets projecting the hit to competitiveness, but from my tailoring shop in Jharkhand, I see the real cost. Every rupee diverted to this 'green levy' is a rupee less for my brother's books in Ranchi. The world's climate policy feels distant until it tightens the thread on a family's only spool of opportunity.
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