India
India shipped 4.4 Mt of CBAM goods to the EU in 2025 (3.9 % of all CBAM imports, down 12 % on 2024). Most of the exposure comes from iron and steel. At default values the 2026 CBAM bill would be about €1.17 bn, ranking it 5th of 152 countries.
What it exports
| Sector | Tonnes 2025 | Value | Exposure 2026 | 2034 |
|---|---|---|---|---|
| Iron and steel | 4.0 Mt | €4.39 bn | €1.14 bn | €1.88 bn |
| Aluminium | 313 kt | €904 m | €25.6 m | €73.1 m |
| Fertilisers | 3 kt | €4.4 m | €253 k | €380 k |
| Cement | 84 kt | €6.1 m | €1 k | €2.5 m |
Products with the largest exposure
Default value (2026, incl. mark-up) and CBAM benchmark in tCO₂e per tonne.
| CN code | Product | Tonnes | Default | Benchmark | Exposure |
|---|---|---|---|---|---|
| 7210 70 80 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, hot-rolled or c… | 311 kt | 4.708 | 1.491 | €83.2 m |
| 7210 49 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, hot-rolled or c… | 291 kt | 4.708 | 1.491 | €78.0 m |
| 7207 11 16 | Semi-finished products, of iron or non-alloy steel, containing by weight < 0,25 % carbon… | 243 kt | 4.697 | 1.364 | €67.3 m |
| 7208 51 20 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, not in coils, s… | 236 kt | 4.708 | 1.370 | €65.4 m |
| 7209 17 90 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 240 kt | 4.708 | 1.458 | €65.0 m |
| 7209 16 90 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 204 kt | 4.708 | 1.458 | €55.2 m |
| 7208 37 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 137 kt | 4.708 | 1.370 | €38.1 m |
| 7206 90 00 | Iron and non-alloy steel, in puddled bars or other primary forms (excl. ingots, remelted… | 280 kt | 2.904 | 1.288 | €38.0 m |
| 7210 12 20 | Tinplate of iron or non-alloy steel, of a width of ≥ 600 mm and of a thickness of < 0,5 … | 106 kt | 4.708 | 1.491 | €28.4 m |
| 7208 38 00 | Flat-rolled products of iron or non-alloy steel, of a width of ≥ 600 mm, in coils, simpl… | 95 kt | 4.708 | 1.370 | €26.3 m |
| 7202 19 00 | Ferro-manganese, containing by weight ≤ 2 % carbon | 63 kt | 6.149 | 1.361 | €24.9 m |
| 7225 99 00 | Flat-rolled products of alloy steel other than stainless, of a width of ≥ 600 mm, hot-ro… | 46 kt | 8.052 | 1.706 | €23.9 m |
Outlook
Same 2025 volumes, same certificate price (€82.32), default values throughout.
Carbon pricing in India
India's Carbon Credit Trading Scheme sets greenhouse gas emission-intensity targets for energy-intensive sectors. It is an intensity-based credit system rather than a cap with a price on every tonne, so its value for the CBAM deduction is uncertain.
Where it sits on the map
Read more
- Policy
Carbon prices abroad and the CBAM deduction
- Sectors
Blast furnace, DRI or scrap: why the steel route sets the price
- Exporters
A checklist for producers outside the EU
Nearby in the ranking: Türkiye, Russia, Ukraine, Egypt.
Sources: Eurostat Comext (DS-045409), annual 2025; Implementing Regulations (EU) 2025/2621 and 2025/2620. See methodology.