Syllabus: GS-III
Subject: Economy;
Topic: Trade & External sector ( WTO &Issues).
Issue: WTO.
Context: India to focus on trade-centric discussions at the WTO conference, avoiding non-trade issues like labour and climate.
Key Points for Discussion:
- India is actively engaging with the EU regarding the Carbon Border Adjustment Mechanism (CBAM) to protect its industries from adverse effects.
- It opposes unilateral environmental policies like the EU’s carbon tax and deforestation laws, which it believes could harm international trade dynamics.
- India suggests discussing social issues like women’s economic empowerment in UN-specific forums rather than at the WTO to prevent impacts on its WTO rights and obligations.Top of Form
| CBAM (Carbon Border Adjustment Mechanism): CBAM aims to prevent carbon leakage, ensuring fair competition globally. It imposes carbon prices on imports, encouraging emission reduction and cleaner production while generating revenue for climate policies. |
