Commerce Minister tells the Berlin Global Dialogue that the EU carbon border levy could raise industrial costs

23 October 2026

Speaking at the Berlin Global Dialogue on 22 October 2026, Union Commerce and Industry Minister Piyush Goyal said the European Union's Carbon Border Adjustment Mechanism could increase industrial costs, fuel inflation and weaken the competitiveness of European industries.
He said added costs on steel, aluminium and cement could raise spending on infrastructure such as ports, airports, highways and utilities.
He warned that regulatory barriers could prompt retaliation from trading partners.
Goyal noted that India accounts for about 3 to 3.5 per cent of global carbon emissions while being home to around 17 per cent of the world's population.
India has raised concerns that the mechanism could increase compliance costs for exporters and create additional trade barriers.