India eyes Middle East and Asian markets to shield steel exports from EU carbon tax
India is targeting new steel markets in the Middle East and Asia to offset EU carbon taxes. Officials are also seeking raw material deals across the globe.
Insights:
India 
IN is seeking alternative steel export markets in the Middle East and Asia while pursuing long-term raw-material offtake agreements and asset acquisitions. This strategic shift follows the implementation of the European Union Carbon Border Adjustment Mechanism, which took effect in January. The new carbon tax has placed significant pressure on Indian steel exports, prompting immediate adjustments across the sector.
IN is seeking alternative steel export markets in the Middle East and Asia while pursuing long-term raw-material offtake agreements and asset acquisitions. This strategic shift follows the implementation of the European Union Carbon Border Adjustment Mechanism, which took effect in January. The new carbon tax has placed significant pressure on Indian steel exports, prompting immediate adjustments across the sector.The development is significant because India is the world's second-largest producer of crude steel. Historically, roughly two-thirds of the country’s steel exports have been shipped to Europe, making the policy-driven change a major catalyst for market realignment. The Government of India - Ministry of Steel is actively coordinating these efforts to mitigate the impact on domestic production and trade, working alongside various Indian steel mills. Sandeep Poundrik is among the key figures involved in steering the industry through these regulatory challenges.
