look news india
New Delhi, October 11 (HS). Union Commerce and Industry Minister Piyush Goyal on Friday said the European Union's (EU) Deforestation Regulation (EUDR) and carbon tax are unfair. He said that this will have an impact on Indian industries. Piyush Goyal has also termed EU's safeguard measure on some steel products as irrational.
The Union Commerce Minister said this while addressing the official launch ceremony of the Federation of European Trade (FEBI) in India in New Delhi. The Commerce Minister emphasized how the federation can act as a facilitator in expanding the footprints of European companies in India, thereby paving the way for shared prosperity and growth.
Addressing industry and EU representatives at the launch of the European Trade Federation in India, the Commerce Minister said the EU's safeguard measures on some steel products are also irrational. In his address, he said that there is abundance of opportunities in trade, investment and manufacturing sectors in our country. He said the EU's safeguard measures on some steel products are also irrational.
Major agricultural exporting countries, including Brazil, India, Indonesia and the US, have objected to the EU Deforestation Regulation (EUDR). The EUDR was adopted on May 16, 2023. Its aim is to prevent the import into the EU market of certain goods that contribute to deforestation and forest degradation. These products include coffee, leather, oil cakes, wooden furniture, paper and paperboard. There are plans to further expand this product list.