New Delhi, Sept. 18 -- The European Union's Carbon Border Adjustment Mechanism (CBAM) will significantly affect India's exports to the region, and the domestic industry must take corrective measures to mitigate the impact, Steel Secretary Sandeep Poundrik said on Wednesday.

Speaking at the FT Live Energy Transition Summit India in the capital, Poundrik said the CBAM - designed to impose a carbon price on imports from countries with less stringent environmental regulations - poses a challenge for India's steel sector, which remains heavily reliant on the blast furnace-basic oxygen furnace (BF-BOF) route, a process with higher carbon emissions.

The CBAM, which will be fully implemented in 2026, initially covers iron and steel, aluminium, ...