NEW DELHI: India will have to prepare itself in future to deal with issues like non-tariff and unilateral duty-related barriers like the EU carbon tax, a senior government official said on Wednesday.
Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that countries like the US and the European Union (EU) are trying to boost their domestic manufacturing through such measures.
“So the US has been trying to boost its domestic manufacturing through the Inflation Reduction Act and CHIPS Act, the EU is trying to do it through CBAM (Carbon Border Adjustment Mechanism)…deforestation regulation is another mechanism of putting non-tariff barriers on goods coming from developing economies.
ADVERTISEMENT
