The EU's implementation of the CBAM, aimed at achieving net-zero emissions by 2050, threatens India's position as a leading low-cost aluminum producer due to its higher emission intensity compared to European counterparts.
The EU’s implementation of the Cross-Border Adjustment Mechanism poses a significant challenge to India’s aluminum industry and the global price of aluminum. The move stems from the EU’s eagerness to tackle carbon and achieve net-zero emissions by 2050. However, as one of the leading low-cost aluminum producers, India faces a considerable setback due to CBAM. Indeed, the subcontinent produces 4.1 million tons of primary aluminum annually, exporting roughly 56%.
But despite these efforts, expanding capacities among Middle Eastern countries is expected to provide the region’s producers a competitive advantage over their Indian counterparts once CBAM takes effect. This poses further challenges forlooking to maintain their competitiveness in the face of increasing opposition.
To maintain competitiveness, Indian aluminum exporters must embrace sustainable practices and technologies that effectively reduce emissions. This shift towards sustainability is crucial for Indian manufacturers to navigate the challenges imposed by CBAM. It ensures their continued presence and success in the international marketplace.India’s aluminum industry will likely face challenging times ahead due to various factors. Among these are sluggish demand and a subdued price of aluminum.
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