New Delhi, July 26 -- Union Commerce and Industry Minister Piyush Goyal highlighted on Saturday that growing international scrutiny of the European Union's Carbon Border Adjustment Mechanism (CBAM) could weigh more heavily on European industries than its intended targets.

"There is a lot of opposition to CBAM in the EU also. In fact, EU's infrastructure will become costlier. EU's housing will become costlier. EU's cost of manufacturing will become costlier, which will hurt their international trade. So in some sense, the sufferer will not be India. The sufferer will be industry and business in EU, which may actually open up more doors and opportunities for India, given our high quality and cost competitiveness in many other markets of th...