Urgent Global Talks on the EU’s Carbon Adjustment Import Charges Introduction The EU’s commitment to reducing carbon emissions in line with the Paris Agreement and the UNFCCC has led to the implementation of higher obligations on domestic industries in carbon-intensive sectors. However, this poses two challenges: maintaining competitiveness against cheaper imports from countries with lower emission reductions, and preventing carbon leakage through industrial relocation. To address this, the EU has introduced the Carbon Border Adjustment […]

New reporting regime for pan masala to kick in from 15 May. Introduction The Central Board of Indirect Taxes and Customs (CBIC) has introduced a new reporting regime for producers of pan masala, certain tobacco types for smoking, and smoking mixtures for pipes and cigarettes, which is scheduled to commence from 15th May. This measure aims to enhance transparency, reduce tax evasion, and improve compliance with goods and services tax (GST) among manufacturers in this […]

The EU’s sustainability directive may weaken trade ties. The European Council recently approved the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), a due-diligence requirement that creates a legal liability for EU-based firms arising from any environmental and human-rights violations (including labour rights) within their supply chains. The CSDDD awaits a nod from the European Parliament, which is going for elections in June. Indian exporters are still grappling with the European Union’s Carbon Border Adjustment Mechanism […]

India’s manufacturing hits a 16-year high in March Based on the information provided, it appears that India’s manufacturing sector experienced a significant surge in March, reaching a 16-year high of 59.1 according to the S\&P Global survey. This growth was driven by an increase in new orders, expansion of inventories, and higher job creation. The demand for new orders came from both domestic and export markets. New export orders also saw a notable increase, particularly […]

Regulators are forcing big tech to rethink its AI strategy. Trustbusters have big tech in their sights. On March 25th the European Commission opened a probe into Apple, Alphabet (Google’s parent company) and Meta (which is Facebook’s). Regulators in Brussels think the measures which the American technology behemoths have put in place to comply with the Digital Markets Act, a sweeping new law meant to ensure fair competition in the EU’s tech industry, are not […]