Rejects unjust taxes on Indian aluminum and steel sectors.

According to Commerce and Industry Minister Piyush Goyal, India will oppose any "unfair taxes or levies" that affect the viability of the domestic steel and aluminum industries. "Let us not be scared of it and find solutions to our advantage going forward," he said in a speech at the ISA Steel Conclave. Differentiated but common responsibility would have to be accepted by the European Union (EU).

Goyal was alluding to the Carbon Border Adjustment Mechanism (CBAM), which levies a high tariff on steel imports that are not green when they enter European countries. This levy is perceived as an attempt to severely tax Indian steel exports, rendering them uncompetitive. Speaking on the subject, he stated, "We are taking the World Trade Organization (WTO) very seriously about CBAM because we are very concerned about it." We will battle to ensure that Indian exporters and producers receive a fair deal.

"Green" steel is defined as having been produced in an environmentally friendly manner. There is a global movement to reduce emissions and mitigate climate change by decarbonizing the steel industry.

He continued, "We will always come up with creative solutions, but I can guarantee you that India will not tolerate unjust taxes or levies being placed on the Indian steel, aluminum, or any other industry."

A guaranteed off-take for any locally produced green steel was also requested by representatives in an effort to offer quick assistance that will aid in the sector's decarbonization. This was in addition to demands for a reduction in domestic steel export levies to offset the effect of the CBAM duties.

Concerns regarding the high price of coking coal, a crucial input for the steel industry, were also raised by the industry, which also pointed out that sellers were making large profits at the current rates.