Berlin, Oct. 22 -- India's commerce and industry minister Piyush Goyal on Thursday said the European Union's (EU) carbon border adjustment mechanism (CBAM), a tax on carbon-intensive imported goods, is "inviting disaster".

Speaking at the Berlin Global Dialogue 2026, Goyal said, "If you have put a CBAM on yourself, you put a 50% import duty to bring steel into your country, you are inviting disaster. Your cost of living will go up. Your people will be unhappy. Your industry will be out-priced."

For its part, New Delhi has secured commitments from the EU, including a forward-looking most-favoured-nation assurance that any flexibilities granted to third countries under CBAM regulations will also be extended to India.

Speaking separately ...