India, Sept. 8 -- The UK has formally recognised India's Carbon Credit Trading Scheme (CCTS) as a qualifying carbon-pricing mechanism under its Carbon Border Adjustment Mechanism (CBAM), potentially easing the carbon-tax burden on Indian exports of steel, aluminium and cement and likely setting a precedent for the EU, people familiar with the matter said. After prolonged technical discussions, the UK government recently communicated to New Delhi that it had assessed the details of India's CCTS and formally accepted it, the people said, requesting anonymity. The development comes after the India-UK Comprehensive Economic and Trade Agreement (CETA) was operationalised on July 15, while the treatment of CBAM remained unresolved and was a major concern for both sides. A government official confirmed the UK's acceptance of CCTS, describing it as a "positive" development. P12...