NEW DELHI. Secretary of the Ministry of Power Pankaj Agarwal held a bilateral meeting with European Commission’s Director General for Taxation and Customs Union Gerassimos Thomas in New Delhi . During the meeting, discussions focused on India’s carbon market development, the EU’s Carbon Border Adjustment Mechanism (CBAM) and opportunities for enhanced technical cooperation.
Mr Agarwal highlighted India’s progress under the Carbon Credit Trading Scheme, including the notification of emission intensity reduction targets for 490 industrial units and the development of the domestic carbon market. Both sides expressed willingness to continue technical engagement on recognition of carbon pricing mechanisms, monitoring, reporting and verification systems and capacity building.
They also agreed to strengthen cooperation and facilitate continued dialogue on carbon markets, CBAM-related methodologies and other areas of mutual interest.
