India's steel and aluminum exports to the European Union plunged by 24.4% in the fiscal year 2025
September 24, 2025
According to data from the Indian think tank Global Trade Research Initiative (GTRI), India's steel and aluminum exports to the European Union plunged by 24.4% in the fiscal year 2025. This trend occurred before the EU's Carbon Border Adjustment Mechanism (CBAM) tariffs came into effect on January 1, 2026, indicating that the market had been affected in advance.
The carbon emission reporting rules, which came into effect on October 1, 2023, have already hindered exporters' exports to Europe. Steel exports were hit the hardest, dropping by 35.1% to 3.05 billion US dollars. In addition, aluminium exports dropped by 9.8%.
