New Delhi, May 18 -- India needs to adjust its domestic industries to adhere to non-tariff barriers like the European Union's Carbon Border Adjustment Mechanism (CBAM) in order to remain competitive globally, NITI Aayog CEO BVR Subrahmanyam stated on Friday.

Speaking at the Confederation of Indian Industry's Annual Business Summit 2024, he emphasised the necessity for India to integrate into global value chains by reducing tariffs and streamlining cross-border procedures.

"India is not significantly involved in global value chains currently. Joining them requires fundamental changes, including lowering tariffs, minimising procedures to enable seamless cross-border movement of goods," Subrahmanyam remarked.

He advocated for India to sig...