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In a boost for businesses, the UK has agreed to recognize India’s carbon credit trading scheme, which will enable exporters to avoid “double taxation”. Officials said that the UK treasury has agreed to govt’s argument and decided to exempt goods…
The central government is working on a scheme to bear 90 per cent of the CBAM compliance costs for MSMEs as exporters grapple with the European Union’s new carbon border tax that came into force this year..
India joined 62 other countries in agreeing to the world’s first-ever global carbon tax by bringing commercial shipping under this mechanism to tackle the greenhouse gas emissions in the sector. Under the agreement, ship owners will need to use cleaner fuels or face fines beginning 2028.