The safeguards would protect domestic
industries from imports coming in from countries that are not subject to carbon
regulatory mechanisms.
Tata Steel, one of the
largest steel-makers in the country, has written to the Union Steel Ministry
seeking that a “safeguard mechanism”, like the Carbon Border Adjustment Mechanism (CBAM)
proposed by European Union (EU), be “kept ready” to protect domestic industries
against imports from countries that are not subject to carbon regulatory
mechanisms.