India will impose retaliatory tariffs if the European Union moves forward with its proposed carbon tax on Indian exports, Commerce and Industry Minister Piyush Goyal stated.
Speaking at the Columbia India Energy Dialogue in New Delhi, Goyal criticised the EU’s Carbon Border Adjustment Mechanism (CBAM), calling it “very, very irrational.” Under CBAM, Indian exports like steel, aluminum, and cement could face duties of 20–35%.
Goyal expressed concern over the waning focus on climate dialogue and emphasised India’s proactive stance in the global energy transition. “Energy transition is a shared responsibility. While the pace will vary by country, commitment must be universal,” he said.
He highlighted India’s leadership in climate action, noting that the country reached its 2030 renewable energy goal—200 GW—in 2022, eight years ahead of schedule. India contributes just 3% of global carbon emissions despite housing 17% of the world’s population.
Goyal criticised developed countries for falling short on their Paris Agreement pledges, especially on climate finance, technology transfer, and honouring the principle of Common But Differentiated Responsibilities (CBDR). He stressed that climate change demands unique national solutions and warned against overconsumption in high-income nations, which drives emissions across the supply chain.
India’s progress in clean technology was also spotlighted. Goyal cited major achievements such as the creation of a 500 GW national power grid, rapid adoption of solar energy, and leadership in sectors like LED lighting, electric mobility, green hydrogen, and biofuels. He also noted India’s emerging role as a hub for clean energy-powered data centres.
Calling for deeper academic collaboration, Goyal invited Columbia University to partner with Indian institutions and consider establishing a campus in India.
Concluding his remarks, Goyal reaffirmed India’s readiness to lead the global clean energy movement. “India is not shying away from change or competition. We will be a partner in the world’s shared prosperity—and a leader in clean energy,” he said.
