The Ministry of Power announced on 12 October 2026 that the Secretary of Power met with the European Commission's Director General for Taxation and Customs Union in New Delhi. The discussions focused on India's carbon market development, the EU's Carbon Border Adjustment Mechanism (CBAM), and technical cooperation. India highlighted its progress in the Carbon Credit Trading Scheme and its non-fossil electricity capacity. The release does not say when any specific agreements take effect.
Key points
- India has notified emission intensity reduction targets for 490 industrial units
- Non-fossil sources account for 308 GW of India's total 558 GW installed capacity
- Both sides agreed to cooperate on carbon pricing mechanisms and MRV systems
When it applies
- Bilateral meeting between Secretary (Power) and Director-General for Taxation and Customs Union